BankerBounty relocates HQ, expands to new states | Birmingham Business Journal

Randy Goggans, left, meets with the Banker Bounty team.

BankerBounty is moving its local headquarters and expanding into multiple new states.

The local startup and business banking service relocated from 4553 Pine Tree Circle in Vestavia Hills to a renovated, historic building at 3949 Cypress Drive in Vestavia Hills on Jan. 31.

Founder Randy Goggans, who has been involved in multiple banking industry startups, said the company currently has 12 employees but plans to at least double by the end of next year. Banker Bounty provides banks with an application to give financial rewards to non-revenue-producing employees for sending leads to producers.

“We’ve got a small sales team, but really where we’re hiring folks is (to) help us with software development for new products and services, as well as onboarding new customers,” Goggans said.

Goggans said the company had clients in three states at the beginning of 2024 but now has clients in 15. By the end of the year his goal is for BankerBounty to have clients in more than 30 states. He said once BankerBounty has landed its first client or two in a state, it has been able to grow quickly when nearby banks see what their competition is doing.

“I like to call it land and expand,” Goggans said.

Goggans said the company has informally partnered with Samford University and UAB to bring development and entrepreneurship interns onboard.

“We plan on being explosive and having several hundred institutions by the end of the year,” he said. “And when you do that, you can sign them up but you’ve got to be able to onboard them.”

Goggans said BankerBounty is also planning some strategic partnerships in the next few months whereby companies can either sell BankerBounty’s products and services or white-label them as their own and resell them. He said he has also heard from insurance companies that have said BankerBounty would be a perfect fit for their organizations.

“I foresee BankerBounty being a tool that can be used in other sectors over time,” Goggans said.