Credit Union Fintech: PeopleHedge
PeopleHedge helps importers, exporters, credit unions, and community banks with foreign exchange services. As they put it, “typically, they shave about a hundred dollars off the cost of an average transaction for the bank or credit union.”
It works like this: buying and selling products abroad means dealing with tricky currency conversion rates. PeopleHedge helps buyers and vendors save money on conversion rates by offering flat rate pricing for foreign exchange.
Beyond just saving money on exchange rate conversions, PeopleHedge also provides simple hedging capabilities. You can lock in exchange rates months in advance. This capability allows credit unions, banks, and businesses to secure advantageous conversion rates ahead of time for more savings.
Lastly, PeopleHedge can help you learn more about the market you’re in. It provides valuable information about your market size, growth rate, your customers, and your competitors.
Credit Union Fintech Snapshot: PeopleHedge
Top 3 Problems Solved
- Foreign exchange speed
- Currency conversion rates
- Market capital data
PeopleHedge Founder: Damon Magnuski
PeopleHedge Market Strategy:
Businesses, charities, community banks, and credit unions.
Credit Union Fintech: PeopleHedge in the News
Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.
Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.
If you want to learn more about credit union–fintech partnerships, click here.