Chimney Surges Ahead in Growth and Innovation
Chimney™, a groundbreaking fintech company, is transforming the landscape for financial institutions by enhancing how they utilize property data. In 2024, the company celebrated an extraordinary leap in growth, having successfully onboarded 49 additional financial institutions to its platform. As a result, Chimney now proudly serves over 150 clients across the nation, marking a significant milestone in its journey.
Achievements of 2024: A Year of Impact
This remarkable growth can be attributed to various factors, including achieving cash flow profitability and maintaining an impressive 100% year-over-year increase in engagement with its innovative tools.
Covi, the CEO of Chimney, remarked on the company's success with Chimney Home in 2024. He highlighted the increasing necessity for financial institutions to connect more effectively with homeowners, emphasizing that home equity represents the primary source of wealth for many Americans. As Chimney looks toward 2025, there is a strong commitment to continuing to empower banks and credit unions to position homeownership at the forefront of financial wellness, fostering deeper connections within their communities.
Record Client Growth and Product Engagement
Chimney's suite of products has successfully expanded, allowing the company to effectively serve over 150 financial institutions. These innovations are specifically designed to enhance digital experiences and reinforce relationships between financial institutions and their clients. In 2024 alone, Chimney facilitated over 2,000 loan applications for its partners through Chimney Home, illustrating the platform’s effectiveness in generating real results.
Furthermore, the company saw an impressive enrollment of 100,000 homeowners in Chimney's My Home Tracker, with about 30% actively using the service every month. The engagement didn’t stop there; over 31.3 million users interacted with Chimney’s financial calculators throughout the year, marking a significant 40% increase from the previous year. This led to a remarkable 250,000 clicks towards loan applications and further product exploration, showing an 80% improvement in user engagement.
Empowering Financial Institutions
By providing tailored, data-driven solutions on digital platforms, Chimney empowers financial institutions to forge lasting relationships with millions of Americans. This approach enables institutions utilizing Chimney to increase deposits and successfully fund numerous loans, facilitated by intelligent, data-informed recommendations shared through digital channels.
Forging Expanded Partnerships
In an effort to broaden its reach, Chimney has established partnerships with prominent digital banking providers such as Alkami, Jack Henry, and Lumin. These alliances are helping to extend access to Chimney’s innovative, property-based financial tools.
Showcasing Innovation at Major Events
Chimney’s growth trajectory wasn't just evidenced through its numbers; the company’s leadership team was also recognized at several key industry events. Notable presentations included:
- Alkami Co:lab 2024: Co-founder and CRO Chase Neinken exhibited Chimney Home, emphasizing how it enhances financial experiences for homeowners.
- NACUSO Next Big Idea Competition: Co-founder and CEO Matthew Covi showcased Chimney’s forward-thinking strategies for utilizing property data within digital banking frameworks.
- American Banker & Beacon Digital Forum, "Navigating the Future of Fintech & AI": Neinken shared insights on the evolving role of artificial intelligence in marketing within the fintech landscape.
Community Involvement and Philanthropy
Chimney is also committed to giving back to the communities it serves through various charitable initiatives. This includes contributions to the GoWest Foundation fundraiser for the Children’s Miracle Network, support for Stand Up to Cancer at the Jack Henry Connect event, and backing the InTheCellar Initiative.
About Chimney
Chimney offers a unique blend of tools and APIs that enable users to monitor home values, understand their borrowing capabilities, and easily access home equity—all integrated within their banking applications. This embedded financial platform not only aids homeowners but also provides personalized insights when they’re needed most, empowering them to make informed financial decisions. By harnessing open banking data, Chimney enables financial institutions to engage customers with proactive and bespoke product offerings tailored to their individual financial situations. This innovative approach has positioned Chimney’s homeownership platform as a vital addition to its product suite, which also includes its award-winning financial calculators. Recognized with the Best of Show award at FinovateSpring 2021, Chimney’s solutions are crafted for the digital era, aiming to attract more customers, capture valuable data, and accelerate lead conversion. Trusted by over 80 leading financial institutions across the country—including banks, credit unions, and lenders—Chimney continues to pioneer new standards in the fintech industry.
For further information, please visit www.chimney.io.
Frequently Asked Questions
What is Chimney and what does it offer?
Chimney is a fintech company providing tools and APIs that help financial institutions enhance their engagement with homeowners through personalized property data solutions.
How many financial institutions does Chimney serve?
As of 2024, Chimney serves over 150 financial institutions, showcasing significant growth and demand for its services.
What notable achievements did Chimney accomplish in 2024?
Chimney achieved cash flow profitability, reached 100% year-over-year growth, and generated over 2,000 loan applications through its platforms, among other successes.
What partnerships has Chimney established?
Chimney has partnered with key digital banking providers like Alkami, Jack Henry, and Lumin, which expands access to its innovative tools.
How does Chimney contribute to communities?
Chimney engages in various initiatives and charitable contributions to support community organizations, including fundraising efforts for children’s health and cancer research.
