Back to case studies

About HMBradley:

HMBradley is a Los Angeles-based challenger bank that aspires to change customers' perception of banking by rewarding good habits. Its flagship product is a tiered high-yield checking account offering 4.7% APY for its highest-tier customers compared to the average savings rate of 4.2%.

Having accepted more than $400 million in deposits since launching in 2019, HMBradley has outgrown its existing core that prohibited it from launching new products with speed. 

Project overview:

  • Vault Core’s Universal Product Engine has provided HMBradley with unique flexibility and control in designing and building new financial products using smart contracts.
  • HMBradley launched an MVP product with innovative features to enhance customer experience and rapidly grow its customer base. Highlights include:

- Bundling products: linkage between products allowing for increased consumer benefits (e.g. credit card spending directly linked to savings APY)

- Changing promotional rates: making interest rate changes through APIs without any changes to the product 

- Automatic flagging and incentivizing customer behavior: event-driven, personalized, qualifying triggers that dictate product behavior 

- Creating personalized routines: allowing customers full flexibility to manage and set distinct targets such as multiple savings/subscription pots in one account with each subscription being one routine

Deployment approach:

  • Migration: developed an MVP product that covers key functionality needed for production, before beginning a full migration