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Chimney: A Leader in Financial Guidance Tools for 2024 and Beyond

Overview of Recent Achievements

Chimney’s suite of financial guidance tools continues to grow with new partnerships, industry recognition, and expanded user engagement. As a fintech company radically transforming how financial institutions utilize property data, Chimney has witnessed a robust year of growth in 2024 and is poised to continue this momentum into 2025.

Stellar Growth in Clientele and Engagement

New York, January 14, 2025 – (BUSINESS WIRE) – Chimney™ proudly announces the addition of 49 new financial institutions to its platform. This impressive feat has brought the total number of clients to over 150 nationwide. The company has celebrated significant milestones, such as attaining cash flow profitability and achieving a remarkable 100% year-over-year growth. Additionally, the company has seen heightened engagement with its innovative financial tools that aim to empower homeowners and financial institutions alike.

Insights from Leadership

Reflecting on Chimney’s successes, Covi, CEO of Chimney, stated, "The success we had with Chimney Home in 2024 underscores the critical need for financial institutions to better engage homeowners in managing their financial lives. Home equity is the largest source of wealth for Americans." He further expressed, "As we head into 2025, we’re inspired to continue empowering banks and credit unions to make homeownership a cornerstone of financial wellness, fostering deeper connections and driving meaningful impact in the communities they serve."

Focused Mission and User Engagement

Chimney tirelessly strives to empower financial institutions by meeting customers where they are—on digital platforms with uniquely personalized, data-driven solutions. Throughout 2024, Chimney achieved notable successes, which include:

Record Client Growth and Product Engagement

• 150+ Financial Institutions: Chimney has expanded its reach to support more than 150 financial institutions with enhanced digital experience tools.
• 2,000 Loan Applications: The platform successfully generated over 2,000 loan applications for clients utilizing Chimney Home, reaffirming its effectiveness in generating concrete results.
• My Home Tracker Enrollment: An impressive 100,000 homeowners enrolled in Chimney’s My Home Tracker, with 30% remaining active monthly.
• User Engagement: The company’s financial calculators attracted a staggering 31.3 million users in 2024, marking a 40% year-over-year rise. This led to 250,000 clicks to apply or learn more, an impressive 80% increase from the previous year.

By proactively delivering intelligent recommendations through digital platforms, financial institutions utilizing Chimney’s tools have successfully increased their deposits and loan funding while fostering stronger member relationships.

Expanded Partnerships

Chimney broadened its impact by collaborating with renowned digital banking providers such as Alkami, Jack Henry, and Lumin. These partnerships enhance access to Chimney’s robust suite of property-based financial tools, allowing even more financial institutions to leverage its solutions.

Showcasing Innovation and Vision

In addition to tremendous growth, Chimney’s team was invited to present at several prestigious tradeshows throughout the year, showcasing their innovative vision. Key events included:

• Alkami Co:lab 2024: Co-founder and CRO Chase Neinken introduced Chimney Home, illustrating its impact on homeowner financial experiences.
• NACUSO Next Big Idea Competition: Co-founder and CEO Matthew Covi discussed Chimney’s innovative approach to harnessing property data in digital banking.
• American Banker & Beacon Digital Forum: Neinken engaged in vital discussions concerning AI’s role in fintech marketing.
• Banking Transformed Podcast: Covi was joined by Jim Marous to discuss winning strategies for financial institutions competing in the digital landscape.

Community Contributions

Chimney also made a meaningful impact in the communities it serves, participating in various initiatives such as contributions to the GoWest Foundation fundraiser for the Children’s Miracle Network, Stand Up to Cancer at Jack Henry Connect, and the InTheCellar Initiative, showcasing a commitment to social responsibility.

About Chimney

Chimney’s comprehensive suite of tools and APIs equips users to track home values, understand their borrowing power, and easily access home equity directly within their banking applications. By integrating these capabilities into an embedded financial platform, Chimney provides homeowners with essential guidance and insights at the most opportune moments, empowering them to make informed financial decisions.

Leveraging open bank data, Chimney fosters proactive engagement with homeowners by delivering tailored product recommendations unique to each individual’s financial circumstances. The company’s homeownership platform adds to its product portfolio, which hosts award-winning financial calculators. Recognized at FinovateSpring 2021 as "Best of Show," Chimney’s solutions are crafted for the modern digital landscape, enhancing customer engagement, capturing valuable data, and expediting lead conversions. More than 80 leading financial institutions across the United States, including banks, credit unions, and lenders, trust Chimney.

The Role of AI legalese decoder

In managing a range of financial services, navigating legal and compliance requirements is crucial. This is where AI legalese decoder comes into play. The AI legalese decoder can simplify complex legal jargon, helping financial institutions understand regulatory language and compliance requirements without needing extensive legal expertise. By providing clear and accessible interpretations of legal documents, AI legalese decoder empowers financial institutions to ensure they operate within all legal frameworks while enhancing their offerings to homeowners. This tool further supports Chimney’s mission to provide personalized guidance, ensuring homeowners and financial institutions can navigate legal complexities effectively.

For more information on Chimney and its innovative products, please visit www.chimney.io.

Contacts

Mallory Anderson
Email: [email protected]
Phone: 706-830-0868

For the original source version of this announcement, view here: Business Wire

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