Quilo, an ICBA ThinkTECH accelerator company, is a FinTech platform that enables community banks and credit unions to originate and service installment loans with instant access to funds.
Stunk is pleased to announce that Quilo has been selected by the ICBA to participate in the ThinkTECH Accelerator program. Quilo is one of only 11 fintech companies to be part of the ThinkTECH 2022 cohort. In addition, ICBA has invested in Quilo.
ThinkTECH is a community bank-focused fintech accelerator, operated in partnership with The Venture Center, dedicated to identifying and nurturing community bank-backed fintech partnerships. Through an intensive 12-week program, these promising fintechs will meet with community bank executives, policymakers and subject matter experts to collaborate on fintech solutions tailored to the unique needs of community bankers.
The ICBA ThinkTECH Accelerator was launched in 2019 to bring together community bankers and fintech visionaries to develop solutions specific to the industry.
Quilo is a fully digital, unsecured installment loan solution that can be used in three ways:
1) Fund checking account for debit card purchases
2) Pay off credit card balances
3) Make new purchases online or in store
The platform does not require integration with a bank core and because it is fully digital, bank employees can remain in control of the loan portfolio with minimal effort. Additionally, Quilo has a turnkey, fully managed digital marketing campaign designed to attract existing customers and promote the financial institution to new customers locally.
Personal installment loans are the fastest growing lending segment in the country. Since 2018, the all-digital consumer loan segment has grown 44% among Millennials and Gen Z. In partnership with Strunk, Quilo will enable community banks and credit unions to enter this lucrative space.
Strunk has implemented successful profit improvement and risk management programs for hundreds of municipal financial institutions over the past 40 years. Strunk offers easy-to-implement programs that help community banks and credit unions increase profitability, customer loyalty and risk control.
To learn more about Quilo, contact Strunk at [email protected]call 800.728.3116 or visit us StrunkAccess.com.
Name: Dan Roderick
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Address: 375 Northridge Road Suite 550, Sandy Springs, GA 30350, USA
Release ID: 89062719