Filene Fill-in Episode #16
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Ep. 16: The Story of 6 Clicks in 60 Seconds (Instant Funding)
QCash Financial CEO Ben Morales speaks about this short-term small-dollar lending solution that provides instant funding in less than 60 seconds.
- Guest Introduction: Ben Morales, CEO of QCash Financial, joins the podcast to discuss their omnichannel lending solution. QCash provides instant funding within 60 seconds, focusing on small dollar short-term credit loans.
- QCash Origins and Addressing Payday Loan Challenges: Ben shares the backstory of QCash, explaining how it originated from a credit union's curiosity about non-members using payday loans—their aim was to provide a solution to pull members back into the cooperative byoffering lower-cost alternatives to payday loans.
- QCash's Impact and Innovation: Tansley Stearns, Chief Impact Officer at Filene, highlights how QCash aligns with Filene's mission of accessible financial products and innovation, highlighting the importance of simplicity, ease of use, and financial inclusion, catering to underserved communities.
- Differentiation and the Future of QCash: Ben discusses QCash's differentiation from traditional payday loans, focusing on low effort, ease of use, and their data-decisioning engine. The discussion concludes with an invitation for credit unions to explore and participate in utilizing QCash's technology.
