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Nickels

Leveraging behavioral science to improve financial wellness and unlock new revenue opportunities

1-20 employees

Fintech
B2B
Banking
Financial Services

Burns Park, Ann Arbor, MI

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Company mission

Nickels is a fintech startup that leverages behavioral science to help financial institutions support their consumers’ credit card health and unlock new revenue opportunities in the process. Our flagship product, Credit Card Coach, is a white-label digital solution that gives consumers a place to manage all of their credit cards and receive personalized guidance to improve their financial health.

Our take

Having credit card debt greatly reduces the availability of many banking opportunities, minimizing financial flexibility for customers whilst reducing business for banks. Whilst this can be combatted through the customer gaining a better understanding of their financial health and how to improve it, this requires financial advice and the analysis of behavioral science, something that banks do not traditionally provide.

Nickels develops white label financial health products for banks and fintechs, leveraging behavioral science to help them understand and advise their customers on how to manage their finances and reduce debt. The company's core product is called Credit Card Coach, and aims to improve customer FICO scores and thus help them become eligible for loan opportunities.

Whilst many modern banks provide customers with financial management and wellness tools, Nickels has taken the unique stance of specifically helping customers understand and reduce their debt and improve their credit score. Through this approach, the company claims it can help banks to understand their customers' specific needs better, ultimately helping the bank generate new lending opportunities.