How a community bank is growing beyond its peers with a digital channel featuring account monitoring, personal service access and leading technology that appeals to all demographics.
Johns Creek, GA, January 2023 – Monesty, a pioneer in personalized digital banking, announces the launch of its digital brand and banking platform. Monesty, a division of American Commerce Bank, NA (ACB), bridges the gap between “non-bank, non-insured financial apps” and the confidence-inspiring service of traditional banking. Monesty addresses a market need for secure, elegant, and personalized online banking.
During its research and assessment phase, the ACB project team came to realize that “Banking as a Service” (BaaS) offerings are provided by an array of unregulated “fintech” companies, many operating as unprofitable start-ups. Soundness and personal service were excluded by design, leaving their business models dependent on transaction and interchange fees. In contrast, Monesty was designed for customers who want protection coupled with the convenience and novelty of online technology. Monesty has partnered with PlaidTM for secure account identification, POPi/oTM for video and chat customer service, and EverSafeTM for comprehensive fraud protection and account monitoring. Among Monesty’s premier features are permissions that allow parents and caregivers to monitor transactions and accountholder activity. Caregiver alerts are included with Monesty Safe Harbor checking after enrollment with EverSafe. Monitoring is available on other accounts at additional cost. These services distinguish Monesty as a premier offering among its peers.
“The public has been moving online for 20 years, and banking functionality has struggled to meet the demand for secure and simple online solutions,” says Richard Rotondo, VP of Digital Banking at ACB and Monesty lead. “Consumers have been hesitant due to a lack of trust, a lack of familiarity and an intimidating array of sketchy payment schemes. Monesty combines trust and experience with the convenience and accessibility of a digital platform. At the touch of a button, our customers can text, chat and speak live with our experienced service team. Our staff can help customers with account opening, answer questions about our product offerings and help them address banking needs with confidence and ease. Like our partners at American Commerce Bank, we “bring big bank service down to the community bank level!”
“Monesty is the digital banking brand that will keep American Commerce relevant and forward- looking”, remarked David Tate American Commerce Bank CEO. “We’ve invested in proven technology and adapted it to provide a novel and useful banking experience for our customers. While Monesty will be marketed separately from ACB, it is our “digital branch” and all marketing materials will include the statement “powered by American Commerce Bank”. Our strength and passion for sound customer service will certainly shine through! “ Monesty will initially offer checking, high-yield savings, and credit cards.
For even more confidence and security, Monesty accountholders access their accounts via a “.bank” URL versus the typical “.com.” “.bank” URLs are exclusive to insured financial institutions. This feature, in addition to EverSafeTM account monitoring aims to combat fraud, financial elder abuse and exploitation.
Mr. Rotondo went on to say “Monesty offers convenient banking services to many who’ve been hesitant or resistant to banking online. We do “hand-holding” when necessary...and you’re going to love “accepting our cookies!” Personalization for deeper relationships is our goal, along with offering premier rates and services. Visit www.monesty.bank for more information.
American Commerce Bank is a full-service community bank. Serving its communities since October 2004, the bank has offices in Bremen, Johns Creek and Carrollton in GA and Tallahassee, FL. While Monesty is a consumer offering, American Commerce Bank specializes in customized solutions for both businesses and consumers, offering market-leading deposit services as well as treasury management services and both conventional and SBA lending programs. Visit us at www.americancommercebank.com.
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Monesty is a digital banking division of American Commerce Bank, NA which is a nationally-chartered bank and Member FDIC. Monesty will operate as a consumer driven bank offering checking, savings & credit card products with top-tier competitive rates on a national basis in a fully-digital online environment. Built with consumer safety & security in mind Monesty will offer many added benefits for the monitoring and oversight of accounts to aid in the fight against financial exploitation and elder abuse. Management of Monesty will be overseen by Richard Rotondo, VP-Digital Bank Manager.
American Commerce Bank opened for business in October 2004, and quickly earned a reputation for dependable relationship banking. Many of our initial customers still rely on us for their banking needs. From its first offices in west Georgia, our bank has prospered along with the communities we serve, tripling in size and market locations since 2012.
In June 2015, ACB acquired a key location in Tallahassee, Florida. Management and the board were attracted to a dynamic capital city that is home to two great schools: Florida State and Florida A&M University. Later that same year, the bank expanded into metro Atlanta with an office in the thriving and diverse city of Johns Creek.
In 2021, we announced our latest expansions: a new office in Carrollton, GA and a “digital branch” set to go live in 2022. In all that time, ACB has maintained the highest capital ratings and remained focused on soundness, profitability, and growth.
American Commerce Bank specializes in customized solutions for both business and personal banking needs. Our bank offers market-leading deposit rates as well as convenient on-line banking and treasury management services.
Our primary commercial customers include owner-managed businesses, commercial property investors and their employees. By structuring terms to the specific needs of business borrowers, ACB is a champion of great community banking!