Radius Bank Won the Celent Model Bank 2017 Product Innovation Award

BOSTON, MA--(Marketwired - April 04, 2017) - Radius Bank (www.radiusbank.com), a full-service bank headquartered in Boston, Massachusetts, today announced it has won the Celent Model Bank 2017 Product Innovation award. Celent is a global financial services research and advisory firm.

Over the past eight years, Radius Bank has transformed itself from a small, traditional community bank into a leader in virtual banking. "The entire team has done an outstanding job of implementing innovative technologies to improve the customer experience," commented Mike Butler, Radius Bank President & CEO. "This is truly a team win. We are honored to receive this recognition from Celent and humbled to be among this year's winners, to whom we extend our congratulations."

Celent's annual Model Bank Awards recognize the best practices of technology usage in different areas critical to success in banking. Nominations are submitted by financial institutions and undergo a rigorous evaluation process by Celent analysts. Celent judges submissions on three core criteria: demonstrable business benefits of live initiatives; the degree of innovation relative to the industry; and the technology or implementation excellence.

According to Stephen Greer, Analyst at Celent, "Customers are demanding more digital services, and the way to truly deliver a best in class customer experience is to digitalize. Radius Bank moved from a traditional community institution to a virtual bank throughout the course of a little less than a decade, transforming almost all aspects of its core business. We found its commitment to innovation compelling, and an example to other institutions."

About Radius Bank

With assets of approximately $950 million as of December 31, 2016, Radius Bank is a forward-thinking community bank offering a full complement of convenient, leading-edge personal and business products and services. The Bank serves consumers, small and middle market businesses, unions, government entities and non-profit organizations as its core clients. The Bank offers anytime/anywhere banking via mobile device, 24-hour ATM service, provides additional services such as treasury management capabilities, and partners with innovative organizations including mobile payments leader LevelUp, online investment firm Aspiration, and online marketplace lender Prosper. Customers can readily access traditional, personalized branch banking at the Bank's Boston, MA financial center. Radius Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, visit the Bank's website at www.radiusbank.com, or follow the Bank on Twitter, LinkedIn and Facebook.

Contact Information:

Chris Tremont
EVP / Virtual Banking
Radius Bank
Phone: (617) 728-7340
E-Mail: ctremont@radiusbank.com