Huntington Bank has launched yet another digital tool to help customers look out for their financial future. The newest launch is the Huntington’s Money Scout. This tool is designed to help customers find extra savings. Continue reading to learn more about Huntington Bank’s newest release.
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About Huntington Bank
Huntington Bancshares Incorporated is a regional bank holding company with the headquarters in Columbus, Ohio, with nearly $118 billion of assets and a network of 839 full-service branches, including 12 Private Client Group offices and 1,344 ATMs across seven Midwestern states. This bank was founded in 1866, The Huntington National Bank and its affiliates provide a variety of products.
Huntington Money Scout Overview
As a way of helping people save more money during this critical time, Huntington has announced an innovative new way to save. They are calling their new feature “Money Scout”, an evolution of “The Hub”, which is an automatic savings tool that scans customers’ accounts and looks for money to set aside. Money Scout can essentially save money for customers without them doing anything.
Huntington Bank’s Midwest Money Mindset survey showed Money/Finances as a top driver for stress for people even before the pandemic hit. Now, with more stressors, Money Scout helps customers using predictive technology so they can focus on other important matters.
As quoted, “At Huntington, we’re committed to looking out for people, and Money Scout allows us to proactively do so,” said Andy Harmening, Huntington’s director of Consumer and Business Banking. “We’re always looking for ways to make our customers’ lives easier, and we’re excited to offer a tool that makes it easy to build or rebuild their savings.”
Money Scout works by analyzing spending habits, income and upcoming expenses to find money customers aren’t using in their checking accounts then moving them to a savings account. When this happens, Money Scout notifies customers when the money moves and they will have the option of pausing, stopping, or reversing the transfer.
“We’re doubling down on creating solutions to make it easier for customers to save and build confidence knowing they can achieve any goal, big or small,” Harmening said. “money Scout is the perfect digital tool to build savings and lay the groundwork for longer-term financial health.”
On top of that, Huntington is investing back into their communities to make sure their customer base is financially secure in the future. The bank recently announced a new five-year, $20 billion Community Plan that is focused on giving people, small businesses, and communities economic opportunities through their seven-state footprint.
Digital Tools For Financial Wellness
Since 2018, Huntington has offered a variety of tools including The Hub and Heads Up to help customers keep track of their money and manage their spending. These tools are free to all customers and comes equipped to analyze their personal finances to help develop a budgeting plan. Here are some key features.
- Spend Analysis: Categorizes customer spending to help show their habits.
- Spend Setter: Set up monthly spending limits by category.
- Look Ahead Calendar: Customers can see future bills and deposits so they can plan ahead.
- Savings Goal Getter: Shows customers what they’re saving and shows their progress.
- Heads Up: Provides real-time insights for customers so that they can make informed decisions when it comes to spending. This can be duplicate charges or refund notifications.
Huntington has added a new update to their beloved The Hub platform that allows customers to save money. It is their outstanding features that not only helps their customers organize their spending but also helps them achieve their financial goals. For more posts like this, check out our list of Huntington Promotions and more bank guides!