Municipal Credit Union is using Movemint’s AI-driven embedded finance and digital marketing platform to drive loan and deposit growth.  

With the platform, the $4.6 billion credit union has issued more than 28,000 loans for nearly $408 million since deploying the tech in April 2024, Michael Savino, chief lending officer at the New York-based FI, told FinAi News.  

Movemint’s platform, which helps credit unions “identify member needs and respond to those needs accordingly,” has also resulted in more than 5,700 new deposit accounts with balances totaling more than $47 million, he said.  

“We leverage credit data and marry that with our own core relationship data to identify product gaps and financial needs,” Savino said. “Using Movemint’s rules engine, we can then deliver personalized offers right to our members.”

Movemint’s reporting dashboard enables credit unions to “easily track loan volume, application conversion, cross-sell activity and deposit growth,” he said. In addition, its cross-selling tool allows employees to know the exact loan and deposit products that members are pre-approved for, leading to more “pointed conversations based on the members’ financial goals.” 

Speed is another advantage, with applications taking less than one minute to complete, Savino said. 

Agentic solutions

Fintech Movemint, which rebranded from Digital Storefront in January, uses credit unions’ data on existing members and clients to personalize offers, Gabrielle Champine, head of growth and client success at Movemint, told FinAi News.  

“Then, we do batch uploads to make sure that all of the tools or all of the offers are sent to the members,” she said.  

Movemint integrates its platform into existing technology stacks so that no additional resources are needed “once you flip the switch on,” Champine said.  

The fintech is beginning to explore agentic AI to enhance the ways in which credit unions engage with members, she said.  

“A lot of our focus right now is specifically on the agentic AI because we think that is going to be a boom in the industry — the credit coaching, as well as the propensity modeling for the next best offer.”

— Gabrielle Champine, head of growth and client success, Movemint

Movemint’s strategy highlights the growing intersection of agentic AI and embedded finance. JP Morgan, for example, is zeroing in agentic AI’s potential to enhance embedded payments.  

The agentic AI market is projected to grow nearly 1,622% to $107.3 billion in 2032 from $6.2 billion in 2024, according to research and consulting firm SNS Insider. 

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