Credit Union Fintech: Cambio
Who is the product for?
Credit Unions and Banks
What does it do?
Cambio is a catered digital banking platform built to help the 12 million 18-45 year old underserved credit invisible Americans. Currently, these consumers use alternative financial service providers like check cashers (which charge 5%-10% for banking services) and payday lenders at usury rates. They’re in a vicious financial cycle with limited viable options. Enter Cambio, we enable these consumers to keep more of their money (approximately $1,200/year in reduced fees) and build credit. Users earn rewards points for good spending patterns and for completion of financial wellness challenges. Our gamification platform works to educate and collect data to build and improve their financial health. Cambio generates revenue through data monetization, subscriptions and leads.
Top 3 Problems solved:
Help underserved credit invisible consumers to gain financial stability.
Cambio Founder: Blesson Abraham
Using data for good, helping consumers improve their financial health through data.
Cambio go to Market Strategy:
Partner with Banks and Credit unions through white-labeled APIs