Multiple features in the App Store came within weeks of the new savings app’s release. The young company, which uses health & wellness best practices to help people save, also recently announced a new advisory board and its first major update.
CHATTANOOGA, TENN — Peak today announced their continued momentum, after releasing their savings app, Peak Money, in late November.
“Money problems often don’t start with money,” said Peak chief executive officer, Jay Kelley. “Coming from a background in wellness, our team brings a different approach to managing finances: Although our app helps people save money, our eventual goal is to help them to be more mindful of the underlying motivations and dynamics that shape their relationship with money.”
The Peak Money app allows users to create savings goals and transfer money into them, in an FDIC-insured account. Target completion dates, round-ups and automated deposits all help users make steady progress towards their goals, while an in-app magazine called “Northbound” provides inspiration, tactics and tips. Prompts to take “mindful moments” and an in-app guided breathing exercise further encourage users to develop greater calm, focus and awareness in the context of their money.
Two days after Peak Money’s release, Apple recognized it in their prestigious “New Apps We Love” list. The following week, Peak was highlighted as the top featured app in the App Store’s Finance category, alongside established industry leaders including the Cash app by Square and Credit Karma. Last week, Apple featured Peak at the top of the main Apps page with the “New Update” headline, featuring the app’s latest version, v1.10.
The company was founded in early 2018. The founding team comes primarily from the health and wellness space, and has built apps for insurance plans, large employers, and the consumer market. The group includes repeat entrepreneurs, award-winning app makers, former college soccer players, a sports nutrition trainer and a veteran banker.
Peak also just announced their board of advisors, which includes:
Grant Sabatier, founder of Millennial Money and author of Financial Freedom;
John Philpott, founding team member at SFNB, the world’s first Internet Bank; and
Joe Bennett, former head of product and growth for Ramsey Solutions’ EveryDollar budgeting app.
“I’m thrilled to be part of what the Peak team is doing,” said Mr. Sabatier. “I’ve used hundreds of personal finance apps, and Peak is really doing something special. They are expanding the idea of what a personal finance app can be. While it currently supports people in saving money, saving is only the first step toward a more holistic set of features that will help users take their financial life to the next level.”
Find the latest version of Peak Money in the App Store or at peakmoney.com.
Founded by a team of long-time friends and collaborators in Chattanooga, TN, Peak grew out of a desire to help people reach their full potential in life. After hundreds of conversations with people about the role that money plays in that journey, the team decided to start by focusing on a better way to save. Drawing on their shared experience with health, wellness, and behavior change, the team created the Peak Money app: an entirely new approach to saving that combines financial functionality with a mindful mentality. Learn more at peakmoney.com.
submitted by: Amber Cox