CUSO & Fintech Partner for Financial Budgeting & Goal-Setting Resource App
The tool is designed to appeal to a mobile-first consumer base — especially Gen X and millennial credit union members.
CU Solutions Group (CUSG) and Pocketnest announced a new partnership to help credit unions expand their mobile-first membership who need help setting financial goals.
CUSG, a CUSO based in Livonia, Mich., and Pocketnest, a Michigan-based fintech company, unveiled their new partnership last week. According to the announcement, “Pocketnest offers a white-labeled, comprehensive financial budgeting tool designed to appeal to a mobile-first consumer base — especially Gen¬X and millennial members. Built to balance effectiveness with simplicity, the application delivered through CUSG puts credit union members in the driver’s seat of their fiscal planning through a DIY process and step-by-step guidance through 10 themes of financial budgeting and goal attainment. The application’s algorithms then build unique user profiles to create recommendations customized to the member’s individual financial situation.”
“We created Pocketnest to bring financial freedom, understanding and ease-of-use to the masses, while helping financial institutions connect with their next generation audience,” Jessica Willis, founder and CEO of Pocketnest, said. “We believe that, with CUSG, we can revolutionize financial planning and bring credit union game-changing growth and community engagement during these uncertain times.”
According to CUSG, this partnership decision became especially necessary as the coronavirus hit the U.S. earlier this year.
“Even before the increasingly remote environment brought on by COVID-19, developing innovative mobile services has become essential for credit unions,” Dave Adams, president/CEO of CUSG, said. “Our partnership with Pocketnest will help credit unions deliver a modernized and engaging experience to their members while promoting financial wellness.”
Both organizations agreed that this decision creates a “strong channel-partner in the credit union space” as “Pocketnest’s objective of offering innovative financial wellness tools to a large-scale audience” fits well with CUSG’s mission.