Chimney™ Sees Record Growth in 2021
Following its recent seed investment, company surpasses 1.2 million engagements, over 60 clients signed across 30 states
NEW YORK, Feb. 23, 2022 – Chimney™, a leader in financial guidance for the digital age, announced today that it experienced record growth in 2021. Coming off the heels of its recent seed investment round, the company is preparing for another record year.
Recently selected for the 2022 ICBA ThinkTECH Accelerator, Chimney will present at ICBA Live next week during the ThinkTECH Showcase in San Antonio on Monday, February 28.
Known for its next-generation tools and calculators and trusted by financial institutions across the United States, Chimney is changing the way banks, credit unions and mortgage lenders provide financial guidance to consumers. With the company’s award-winning digital tools, institutions can offer customers personalized, interactive content at scale while gathering gainful customer data, creating an increase in qualified conversions across digital channels.
One recent institution to select Chimney is Massachusetts-based Direct Federal Credit Union. With 30,000 members and nearly $800M in assets, the credit union tapped Chimney when it created its new website with the goal to provide members a better digital experience while increasing loan applications. Shortly after engaging, Direct Federal generated 118 mortgage applications and outperformed its mortgage goal by 71%.
Another client, Dime Community Bank™, with $12B in assets, recently experienced tremendous change, mostly driven by its merger with BNB Bank in Long Island, New York. As part of their online revamp, the team sought out a modern calculator partner that could complement its efforts to drive digital customer engagement.
According to the bank’s Vice President of Digital Marketing, “The first thing that stood out to us when we were exploring new calculators is how modern the design of each calculator was. I researched a lot of calculators on competitor websites, and these were the first to really impress us.”
From its success with financial institutions like Direct Federal, Dime Community Bank and others, Chimney has grown to over 60 clients across 30 states since launching in 2020. Last year, Chimney’s tools helped over 1.2 million people across the U.S. make smarter financial decisions. The company expects this number to grow substantially over the next year.
A Best of Show winner, Chimney presented at both FinovateFall and FinovateSpring last year. Additionally, PROGRESS in Lending Association named Chimney CEO and co-founder Matthew Covi as a 2021 Lending Luminary, recognizing him for his inspiring vision and leadership in the mortgage industry.
“Generic marketing no longer works,” said Covi. “Consumers want experiences that add value to their everyday life and improve their financial health. In fact, 66% of consumers expect companies to understand their unique needs, yet 66% say they’re generally treated like numbers. Meanwhile, 91% of consumers say they are more likely to shop with brands that personalize the experience.”
Covi continued, “That’s why we created Chimney. We are transforming the way financial institutions guide customers through their buying journey by delivering modern, digital tools that help banks, credit unions, mortgage lenders and insurance companies compete in today’s landscape. The growth we achieved in 2021 not only shows that what we are doing is successful, but that there is also strong demand. As we move into 2022, we remain committed to helping financial institutions capture and convert more customers.”
New York-based Chimney™ is transforming the way financial institutions guide customers through their buying journey. Known for its next-generation calculators, Chimney™ delivers modern, digital tools that help banks, credit unions, mortgage lenders and insurance companies compete in today’s landscape. Winner of the FinovateSpring 2021 Best of Show, Chimney™’s solutions are designed for the digital age – built to win more customers, capture better customer data and help move leads faster in the era of digital transformation. That’s why the company is trusted by over 60 of the top financial institutions nationwide, including banks, credit unions and lenders. For more information, visit www.chimney.io.