Wealth management fintech Pocketnest digitizes financial wellness for financial institutions.

The Detroit, Mich.-based startup is one of the newest additions to Bank Automation News’ Emerging Fintech Directory, a compilation of fintechs in the financial services sector.

Founded in 2019, Pocketnest’s flagship offering is a white-label financial wellness platform for banks and credit unions, with clients including $4 billion MSU Federal Credit Union, $896 million 4Front Credit Union and $410 million First Independence Bank. Pocketnest’s approach to wealth management uses behavioral sciences and psychology, which Jessica Willis, founder and chief executive officer at Pocketnest, called an alternative to roboadvisors.

The automation and financial technology boom of the past decade created a gap between younger consumers and their banks, Willis told BAN.

“This evolution has been incredible, but it leaves major gaps for the largest underserved demographic—millennials and Generation X,” Willis said. “It also leaves financial institutions scrambling to create real connections with their communities that have high demands for innovation, customization and tech.”

Pocketnest raised $2 million in a January seed round, according to Crunchbase.

Akoya

Open finance fintech Akoya provides secure and embedded data sharing through application programming interfaces (APIs) and a single point of integration.

Founded in 2020, the Boston-based Akoya facilitates API coverage and data aggregation for $3.7 trillion JPMorgan Chase, $3.1 trillion Bank of America, $1.95 trillion Wells Fargo and more than 500 other financial institutions. Users can “grant, modify, or revoke access to their financial data at any time using their financial institution’s existing online portal,” according to the fintech’s EFD listing.

Akoya was funded by Citi Ventures in a January seed funding round, but details of the transaction were not disclosed.

Other new EFD listings include:

• InnovTechies: Software as a service (SaaS) offering that helps financial institutions research and select fintech integrations;
• ConferInc: Fintech with a digital platform for comparing and customizing mortgage services;
• ZilBank: Banking fintech with all-in-one mobile banking, ACH payments and e-checks;
• Onlinecheckwriter: Payment platform that automates payments and accounts payables for small to medium-sized enterprises (SMEs);
• Sedric: Financial compliance fintech that enables companies to improve consumer protections and regulatory compliance;
• Micah Group: Lending fintech that provides software to banks and financing institutions; and
• Flux: Digital “receipts and offers” platform, which gives customers real-time cash-back access.

Access the Emerging Fintech Directory, a comprehensive fintech database with more than 300 entries. The EFD accepts submissions.