App ‘helps credit unions compete for millennials’

Member News | 14.11.2017

App ‘helps credit unions compete for millennials’

Technology entrepreneur Andrew Duncan has launched an app which aims to help credit unions compete with banks and new payment systems for the millennial generation.

CU Soar is the latest venture by the founder of  mobile and web technology business SwarmOnline and the co-owner of the café and deli chain Peckhams.

He said it would enable Britain’s 400 credit unions to attract younger customers, including the iGeneration, who tend to be ignored.

He claims the app has the potential to disrupt the market and help credit unions compete with Google and Apple Pay.

“Mobile technology has brought about irreversible changes to the way financial services providers market themselves and communicate with customers,” he said.

“There is a huge untapped market throughout the UK and internationally with few credit unions having already adopted the latest mobile technology.”

Dermot O’Neill, chief executive of the Scottish League of Credit Unions, said: “I very much welcome this initiative from CU Soar.”

Source: Daily Business

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