It’s CU 2.0 Fintech Friday! Today, Chris Otey sits down with Wunderite to discuss all things credit union, fintech, and digital innovation. (Hopefully we won’t discuss any digital distractions for CEOs…)
Have you ordered anything online in the last year? In case you haven’t, here’s a little preview of what you can expect:
First, you’ll go onto whatever ecommerce site you’re shopping at. Maybe it’s Best Buy, maybe it’s B&H Photo, or maybe you like the Amazon experience. It doesn’t matter. The point is, you’re going to buy a thing from the convenience of your couch (or the subway, or in an airport bathroom during a layover). Maybe you’re not wearing shoes.
Whatever. It’s convenient.
Then, somehow, that thing you ordered? It’s on your doorstep the next day.
The whole process, from searching, to ordering, to receiving, took you minimal time and effort. If you knew what you were after from the start, and if you had your shipping and payment information saved, the whole thing could have taken you two minutes total.
Try buying insurance like that.
No, really. Good luck.
Wunderite Makes Buying Insurance Easier
That whole digital shopping thing is very fast and convenient. It should be even faster when there’s no physical product to ship.
So, why is it so dang hard to buy insurance? Why does it so often take more than an hour to apply? Why do you need to sign so many pieces of physical paper? Why do you have to put on your clothes and commute to see a provider?
So, the main problem is that the whole system is outdated. There shouldn’t be paperwork. There shouldn’t be filing cabinets.
And although they’re a step up, there shouldn’t be complex digital forms that get manually updated into other systems.
The whole insurance application ecosystem should be digitized and automated.
They’re partnering with credit unions to significantly speed up and streamline the entire insurance application process.
If this sounds like an intriguing credit union–fintech partnership, check out the video and Wunderite snapshot below!
Credit Union Fintech Snapshot: Wunderite
Top 3 Problems Solved
- Digitize insurance applications
- Automate insurance applications
- Digital transformation
Wunderite Market Strategy
Credit unions and community banks.
Wunderite 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.