Bank Michigan has unveiled a new savings app, which pays users for engaging with content.

Dubbed Plinqit, the new app has been developed by HT Mobile Apps.

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Commenting on the tie-up, HT Mobile Apps founder and CEO Kathleen Craig said: “Plinqit was designed to create an innovative way to save money and learn about personal finances.

“Community financial institutions, like Bank Michigan, are able to connect with customers in a unique way while helping them improve their financial literacy through our savings app.

“We are excited to see Bank Michigan grow as they build lasting relationships with their customers through Plinqit.”

Plinqit leverages Build Skills technology, enabling users to engage with content and paying them as a reward for the engagement.

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The content includes educational videos, a library with articles, and quizzes for users.

Bank Michigan president and CEO Richard Northrup, III said: “Plinqit will offer our current and prospective customers the opportunity to grow their savings and attain financial freedom through the app.

“As our customers become more familiar with Plinqit and build their financial skills, we expect to see growth in our customer engagement and acquisition.”

Bank Michigan has three branches located in Onsted, Brooklyn, and Ann Arbor. The business manages $106m in assets.