New App boosts Community Bank membership

A Welsh Community Bank has seen an influx of new Members since the launch of its Smart App.

Smart Money Cymru Community Bank (SMCCU) has signed up over 300 new Members since launching the App in May.

Mark White, CEO of SMCCU says this underlines the growing popularity of increasingly sophisticated locally-based banking, combining technology with the personal touch.

“People in the communities we serve find that the High Street banks are closing branches and becoming more and more remote,” he said. “However, they rightly expect to access fair and equitable financial services where they live and this is why Community Banks such as ours and Credit Unions are thriving.

“As we continue to invest in technology such as the new Smart App and improved back -office systems we can offer all the services Members expect, and at the same time have a helpful presence in local communities.”

The new Smart App can be downloaded from the App Store and offers a range of features including statements, transfers between accounts and payments in an easy-to-use format.

“It is proving very popular indeed and attracting a record number of new Members to Smart money Cymru,” added Mr White.

Smart Money Cymru has branches in Caerphilly, Blackwood, Tredegar, Brecon and Llandrindod Wells and a Membership of 11,000, and is looking at further expansion.

“With the help of Welsh Government we are investing in new technology such as Smart App, opening new premises and recruiting extra staff to reduce financial exclusion,” added Mr White. “As other traditional banks retreat from our communities a gap is being created and this makes it easy for unscrupulous, unregulated lenders to prey on the vulnerable and we are here to prevent this as far as we can.”

With pressure on household budgets showing little sign of lessening, Community Banking is becoming ever more important. “It is especially important to manage money efficiently and have access to financial services. If you think we may be able to help please get in touch with us via the website or pop into a branch for a chat with one of our staff,” he added.