AUSTIN, TEXAS (PRWEB)
September 23, 2022
Onuu, the all-in-one banking and insurance coverage resolution, at this time introduced the nationwide launch of its cellular app, now out there in 45 U.S. states. Co-founded by serial entrepreneurs Felix W. Ortiz III and Ryan Wuerch, the extremely anticipated app has garnered 600,000 waitlist members and is geared to assist People of modest means obtain monetary safety.
Within the U.S. at this time, there are 166 million People of modest means who–due to outdated monetary methods utilizing elements like credit score rating, age or deal with–are excluded from the American monetary providers system. Onuu is addressing these challenges head-on by leveraging synthetic intelligence (AI) and machine studying (ML) in a revolutionary method. As AI and ML constructed on previous frameworks proceed to dominate essentially the most primary automated processes in trendy life, like making use of for a bank card, AI bias typically prevents People of modest means from accessing important monetary instruments. Onuu is constructing trendy know-how utilizing that very same information to create new fashions designed to suit the wants of the individuals, paving the way in which to monetary freedom all below one app.
Onuu’s suite of instruments contains the next:
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Life insurance coverage: Each Onuu member receives a assured supply of life or accident insurance coverage. Onuu has created a customized, one-of-a-kind insurance coverage product for this demographic. - Checking and financial savings accounts: Onuu is providing prospects aggressive charges of two% APY with its Progress Saver account.
- Budgeting: Onuu’s auto-budgeting function permits customers to effortlessly finances for the issues that matter to them.
- Debit playing cards: Onuu’s sensible debit card, in partnership with Visa, permits customers to see the place their cash goes and plan accordingly, accessing their cash wherever at any time, and spending with out debt.
- AI-powered recommendation: Onuu’s AI private finance coach Candi, named after Felix’s grandmother, will present personalised suggestions based mostly on customers’ behaviors and monetary targets.
- Monetary Safety Rating: Onuu members get entry to their Monetary Safety Rating, which makes use of machine studying fashions to issue of their earnings, common and irregular bills, insurance coverage, financial savings, well being, and monetary conduct to find out a holistic measure of their general monetary well-being.
“The launch of Onuu is a pivotal second in monetary safety for a lot of on this nation. The American monetary system just isn’t constructed for almost all of People and Onuu is working to alter that,” stated Felix W. Ortiz III, CEO and co-founder of Onuu. “I’ve my grandmother, Candi, to thank, not just for her tenacity in overcoming these monetary obstacles however for uplifting me to implement change for generations after her.“
The imaginative and prescient for Onuu stems from Felix’s grandmother, Candi, who, like so many others, skilled the issue of navigating the monetary panorama within the U.S. when she moved to New York from Puerto Rico. The instruments to assist present monetary stability and safety weren’t simply out there, fueling Felix’s need to make a change.
“Onuu presents one thing that no different monetary providers firm presents – an opportunity to not solely get a bank card however the monetary administration instruments that will help you construct your credit score and set up monetary safety,” stated Onuu waitlist member, Carla Francesca Soderberg. “With Onuu, my worth as an individual isn’t based mostly on my credit score rating or checking account stability, however on who I’m, which is extremely vital to me as somebody on a really fastened earnings.”
By Onuu’s subscription membership service, individuals can have entry to essential monetary instruments, beginning at solely $7.99 a month. Onuu is offered for obtain on the Apple App Retailer and will likely be out there on the Google Play Retailer this October. To study extra about Onuu, go to onuu.com.
About Onuu: Onuu is an all-in-one banking and insurance coverage platform on a mission to democratize monetary safety entry for People of modest means. Onuu is presently out there in 45 U.S. states and gives members entry to essential monetary instruments, together with checking and financial savings accounts, a debit card, life and accident insurance coverage, budgeting instruments, and an AI-powered monetary coach, Candi. These instruments work cohesively to create a highly-customized roadmap to monetary safety for People who’re in any other case not noted of the monetary providers system. The founding crew, which incorporates serial entrepreneurs and co-founders Felix W. Ortiz III and Ryan Wuerch, have greater than 100 years of mixed monetary know-how expertise. For extra info, go to onuu.com.
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