NEW YORK, April 3, 2019 /PRNewswire/ -- CIT Bank, CIT Group's national online bank, today announced it has been selected as winner of the Best Personal Finance Company award by FinTech Breakthrough, an independent organization that recognizes the top companies, technologies and products in the global FinTech market.
CIT Bank is a leading online bank in the U.S. and most recently launched Savings Builder, a digital savings account designed to reward customers who build a habit of saving. Consumers can qualify for a top interest rate either by consistently saving at least $100 each month or by maintaining a balance of $25,000 or more.
"We are pleased to receive this recognition highlighting our efforts to provide customers the financial agility they need to meet their goals," said Ravi Kumar, head of Internet Banking for CIT Bank. "We believe the Savings Builder account is unique in offering smart savings strategies for consumers regardless of where they are in their financial journey."
This year's program attracted more than 3,500 nominations from across the globe in the categories of Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. The Best Personal Finance Company category, in which CIT Bank was honored, is considered one of FinTech Breakthrough's marquee awards.
"Building a habit of saving is a critical step toward achieving financial security," said James Johnson, managing director of FinTech Breakthrough. "This year, CIT Bank rose above the pack as a result of its compelling personal savings products that make it easier for users to build healthy savings habits."
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience, approximately $50 billion in assets as of Dec. 31, 2018, and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company's commercial banking segment includes commercial financing, real estate financing, equipment financing, factoring and railcar financing. CIT's consumer banking segment includes its national online bank, CIT Bank, and a Southern California branch bank, OneWest Bank. Discover more at cit.com/about.
About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership, the FinTech Breakthrough Awards program is devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.
SOURCE CIT Group Inc.