Less than one month after revealing its India office, Social Money today announced an international alliance with ICICI Bank in India.
“We are thrilled to be working with one of the world’s leading financial services companies in one of the world’s top growth markets,” Social Money CEO Scott McCormack said in a press release.
ICICI Bank has more than 2,700 branches and operations in 19 other countries, including Singapore, United Kingdom, Russia and Canada.
Social Money, the company behind the consumer-focused online social savings bank, SmartyPig, will be licensing its new white-label product, GoalSaver, to ICICI. The product promises to help financial institutions create a social media strategy, increase customer engagement, gather customer data and cross-sell other products. ICICI plans to launch its product, which will have its own name, later this year.
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“ICICI Bank will play an important part in the rapid global expansion of GoalSaver,” McCormack said.
In February, at the time of the launch of GoalSaver, McCormack said SmartyPig was in talks with 12 banks, three of them overseas and some of them larger financial institutions with “names that you would recognize.”
Learn more about GoalSaver: “SmartyPig unveils GoalSaver, a social savings platform for banks“