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Cambridge Savings Bank is borrowing from the playbook of larger rivals as it looks to add customers from outside its Boston-area footprint.
Like the $187 billion-asset Citizens Financial or the $135 billion-asset MUFG Union Bank, the $5.2 billion-asset Cambridge Savings has launched a digital-only bank with a goal of attracting depositors from across the U.S.
Dubbed Ivy Bank, the new digital-only unit offers savings accounts and certificates of deposit, but its menu could expand as it adds customers, said Katie Catlender, the bank s chief commercial officer.
“What we intend to do is just watch and learn and really look at what people need next,” Catlender said in an interview.
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