Report
Year Two FiLab Results: Subscription-Based Pricing Models 2.0
In its second year, FiLab introduced Subscription-Based Packaging 2.0 as one of seven solutions for the 2024 testing phase. In the following report we share highlights from a collaboration between credit unions and FiLab including comprehensive qualitative feedback from members about the desirability of subscription-based packaging models in financial services.
Report
Year Two FiLab Results: Vertice AI
One of the seven solutions selected to test in 2024 was to explore the potential opportunities for credit unions to leverage AI technology to drive deeper engagement with indirect members. To tackle this issue that has been a chronic pain point for credit unions for decades, FiLab partnered with Vertice AI to test if their platform can offer more ways to deepen relationships with indirect members.
Report
Year Two FiLab Results: Flow
Competition in the payments space continues to heat up. That's why FiLab partnered with Flow to test their platform on its ability to enable credit unions to communicate with the members when they are most engaged—at the point of sale with their card.
Report
Year Two FiLab Results: Exagens
Exagens MoneySparxs fuses Behavioral Science, Neuroscience and AI to autonomously deliver at scale, individualized and actionable financial insights, tips, and advice, catalyzing financial wellness and credit union growth.
Report
Year Two FiLab Results: Changed
FiLab partnered with Changed to provide credit unions with a debt repayment tool that members can use to consolidate debts, automate micro-savings, and pay off their debts faster, ultimately saving more money.
Report
Introducing LoanNFT, a Blockchain Solution for the Secondary Loan Market
*25-minute read— This report introduces LoanNFT, a blockchain-based prototype developed over the past year through a partnership with Dr. Lamont Black and FiLab. LoanNFT seeks to enhance the efficiency of the secondary loan market, creating a decentralized, shared database for loan transactions, eliminating the need for centralized intermediaries and reducing costs.
Blog Post
Lessons Learned Working with Fintech Partners in FiLab
Each year, FiLab seeks new ways for credit unions to grow their businesses and boost their impact. In our second year of testing, we partnered with six fintechs to explore their solutions. As we examined the challenges our credit union testers confronted, we gained valuable insights into how they successfully navigated those issues. Here are some key lessons and strategies credit unions can use as they work with fintech partners.
