Bankjoy Launches JoyCompass to Elevate Digital Financial Wellness
Bankjoy, a leading digital banking provider, has announced the launch of JoyCompass, a next-generation personal finance platform designed to help community financial institutions deepen client engagement and drive growth. The announcement was made at the Corelation Customer Conference in San Diego, spotlighting the platform’s powerful capabilities in advancing financial wellness in the digital age.
1. A Transformational Approach to Personal Finance
- JoyCompass is natively embedded into users’ digital banking platforms, seamlessly integrating with credit unions and community banks.
- Empowers CFIs to build personal, digital-first relationships that mirror the in-branch experience.
- Features gamified tools, personalized education, and a financial health scoring system to make finance approachable and engaging.
2. Solving Real Market Needs
According to a recent Accenture report, there’s a critical demand for solutions like JoyCompass:
- 40% of customers lack basic financial literacy.
- 88% of Gen Z and Millennials want to expand their financial knowledge.
- 72% say personalization influences their banking decisions.
JoyCompass addresses these pain points by delivering:
- Tailored financial education content.
- Personalized insights and challenges based on user behavior.
- Real-time data that allows institutions to better understand and serve their members.
3. Early Success with Ellafi Federal Credit Union
- Formerly Seasons Federal Credit Union, Ellafi FCU implemented JoyCompass as part of its rebrand promoting financial inclusivity especially for women.
- Results: 18% adoption rate within the first 24 hours of launch—well above digital banking benchmarks.
- JoyCompass aligned perfectly with Ellafi’s mission to foster financial independence and inclusivity.
“Ellafi’s rebrand reflects a commitment to closing financial gaps and helping members thrive especially women. That aligns perfectly with JoyCompass’ mission,” said Dillon Tardif, VP of Marketing and Digital Products at Ellafi FCU.
4. Rapid Institutional Adoption in Q1 2025
Bankjoy’s expansion continues with seven new financial institutions joining in Q1 2025, including:
- Healthcare Systems Federal Credit Union
- PAHO/WHO Federal Credit Union
- Vista National Bank & Trust
- Peake Federal Credit Union
- Tennessee Employees Credit Union
- La Joya Federal Credit Union
- An Iowa-based institution
Fast onboarding is made possible by Bankjoy’s integrations with Corelation, Fiserv, Jack Henry, Flex, Share One, and others allowing institutions to go live in weeks, not months.
5. A Message from Bankjoy’s CEO
“JoyCompass solves the engagement challenge through gamified wellness tools members actually want to use. It’s a win-win: users gain financial empowerment, and institutions gain deeper insight,” said Mike Duncan, Founder and CEO of Bankjoy.
With the launch of JoyCompass, Bankjoy is redefining how community financial institutions engage and empower their members. By combining gamification, education, and data-driven insights into one seamless experience, JoyCompass addresses urgent market needs helping CFIs evolve with their members and thrive in a digital first financial world.
