Ann Arbor — The FIS Fintech Accelerator program selected Nickels from over 200 companies from 29 countries to join its 2022 cohort. Nickels is one of ten financial technology firms the program identified as promising, high-potential companies to advance the way the world pays, banks, and invests.
Nickels is an early-stage fintech startup that leverages behavioral science to help banks and credit unions promote financial wellness, strengthen consumer relationships, and improve banking outcomes. Its first product, Credit Card Coach, helps financial institutions support their consumers’ credit card health while unlocking new revenue streams. By identifying which consumers would benefit from refinancing their credit card debt, the product gives thousands of banks and credit unions the opportunity to help millions of their consumers tackle the $400B+ revolving credit card debt market. Cardholders in the US are charged over $100B in interest and fees on their credit cards every year. Nickels’ goal is to eliminate those unnecessary charges.
FIS, Inc. (Fidelity National Information Services) is a global leader in financial technology and services that “lift economies and communities by advancing the way the world pays, banks, and invests.” In partnership with The Venture Center, The FIS Fintech Accelerator program identifies and fosters promising startup financial technology firms with resources and support in an effort to accelerate the pace of innovation in financial services.
Nickels will be joining 9 other rising fintech startups as they embark on a 12-week program to refine their product models and find their fit in the financial world. Nickels CEO Joseph Gracia said, “After over two years of working mainly virtually, we’re very excited to meet 30+ banks and credit unions in person through the three on-site weeks of this accelerator program. With the impacts of inflation and rising interest rates, credit card balances are getting larger and more costly. We look forward to working with more banks and credit unions to help their consumers tackle this massive cost area.”