The Bank Slate


Cambridge Savings’ digital bank tops $530M of deposits

Ivy Bank, the digital-only platform created by Cambridge Savings Bank in 2021, has surpassed $530 million of deposits.

The $6 billion-asset bank said in a press release that the platform has more than 6,600 customers two years after its launch.

“Our mission has always been to treat every customer like our only customer, and with Ivy Bank, we’ve extended that approach to consumers nationwide,” Katie Catlender, the bank’s chief customer officer, said in the release.

“Consumers seek an enhanced banking experience that prioritizes convenience, security, and the opportunity to optimize their earnings,” she added. “We augment these capabilities with a compassionate team of professionals who genuinely care and offer invaluable advice and guidance.”

Ivy’s deposit growth has been more than six times that of Cambridge’s branches. The digital bank topped its 2022 annual goal by 64%.

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