Quilo has been selected for the ICBA ThinkTECH Accelerator program
Quilo, an ICBA ThinkTECH Accelerator company, is a FinTech platform that enables community banks and credit unions to create and manage installment loans with instant access to funds.
Stunk is thrilled to announce that Quilo has been selected by ICBA to participate in the ThinkTECH Accelerator program. Quilo is one of only 11 fintech companies to be part of the ThinkTECH 2022 cohort. Additionally, ICBA has invested in Quilo.
ThinkTECH is a community bank-focused fintech accelerator, run in partnership with The Venture Center, and was designed to identify and foster fintech partnerships enabled by community banks. Through an intensive 12-week program, these promising fintechs will meet with community bank leaders, policy makers 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 connect community bankers and fintech visionaries to develop solutions specifically for the industry.
Quilo is a fully digital, unsecured personal installment loan solution that can be used in three ways:
1) Replenish current account for debit card purchases
2) Pay off credit card balances
3) Make new purchases online or in-store
The platform does not require any integration with a banking core, and because it is fully digital, it allows bank staff to maintain control of the loan portfolio with minimal effort. Additionally, Quilo comes with a fully managed, turnkey digital marketing campaign that is designed to attract existing customers and promote the financial institution to new customers locally.
Personal installment loans have been the fastest growing lending segment in the country. Since 2018, the fully digital installment loan segment has grown by 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 successfully implemented profit improvement and risk management programs for hundreds of community 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 monitoring.
To learn more about Quilo, contact Strunk at [email protected]call 800.728.3116 or visit StrunkAccess.com.
Name: Dan Roderick
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