Community bank Bankwell is integrating fintech Crux Analytics’ small business intelligence platform to deliver data-driven insights to its business clients while freeing up human capital. 

Business clients are interested in additional services that align with their operations, and the bank is tapping tech to identify what personalized business banking services to deliver, Bankwell Chief Innovation Officer Ryan Hildebrand told Bank Automation News. 

The $3.2 billion bank’s services include: 

• Business checking with interest; 

• Smart business checking; 

• Statement savings; 

• Certificates of deposit; 

• Flexible lines of credit. 

New York-based Crux, founded in May 2023, uses intelligent automation to deliver product recommendations to business banking clients based on bank data, according to the New Canaan, Conn.-based bank’s May 28 release.  

“Crux was the right fit because they enhance the human element of banking rather than replace it,” Hildebrand said. 

The technology helps “bankers spend more time on what they do best, building trust and providing guidance, while our technology handles the logistical burden of research, prioritization, and relationship monitoring,” Jacob Bennett, Crux co-founder, told BAN.  

Bankwell, founded in 2002, aims to use the data-driven personalization to deliver the right product offerings to the right business clients at the right time, Hildebrand said. 

The technology, which is live at the bank, is a stand-alone system that does not require complex integration, Hildebrand said.  

“The onboarding process took about a week once we were ready,” he said. Discussions between Bankwell and Crux began in the middle of 2024. 

Bankwell is the latest FI to tap Crux, following $540 million Associated Credit Union of Texas, which announced its use of the small business intelligence platform in May.