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Tracking fintech, banking & financial services innovations since 1994
How many partners does it take to help drive a national effort to boost youth financial literacy?
According to news from Finovate Best of Show winner Zogo, eleven is a great place to start.
Zogo announced late last month that it has teamed up with 11 community banks and credit unions across 12 different states to offer its teen financial literacy app to customers and members as a branded offering. Each institution will get an access code specific to their bank or credit union that they provide to the users of the app. Once the code is entered, the Zogo app becomes branded with the institution’s logo, helping create a more unique, partner-specific experience for the customer.
“With Zogo, we wanted to create a financial education experience our peers would actually use,” Zogo co-founder and CEO Bolun Li said. “We are excited to partner with community-focused financial institutions to bring this vision to life.”
The app works by guiding users through more than 300 educational micro-modules that help them meet the national standards for financial literacy. These include topics such as using credit, saving, and financial investing. Successfully completing a module earns the user points that can be redeemed in the form of gift cards. Zogo won Best of Show honors at FinovateFall in September for its live demo of the app, which leverages behavioral economic research developed at Duke University in North Carolina to help foster literacy in younger adults.
The firms that will be using the app as early as this year are:
CommunityWide FCU (Indiana)
Diamond CU (Pennsylvania)
First Bank & Trust (Louisiana)
Magnolia FCU (Mississippi)
MassMutual FCU (Massachusetts)
North Star Community CU (North Dakota)
Pen Air FCU (Florida)
Pyramid FCU (Arizona)
RelyOn CU (Texas)
Southern Chautauqua FCU (New York)
West Town Bank & Trust (Illinois, North Carolina)
Founded in 2018, Zogo has raised $295,000 in pre-seed funding, and is backed by Techstars and MetLife. In addition to its Finovate Best of Show honors, Zogo was the winner of the National Association of Credit Union Service Organizations (NACUSO) 7th Annual Next Big Idea contest earlier this year.
“Zogo is such a timely application, built to connect with young adults as they are beginning to learn the value of money,” NACUSO President and former USAA Bank CEO Jack Antonini said. “Delivered through ubiquitous mobile phone, this app can help credit unions capture new members, while teaching and reinforcing responsible financial habits.”
Maybe you missed your chance to attend FinovateFall earlier this month. Or maybe you want to watch your favorite demos over again. Either way, today’s your day. We’ve just released all of the videos from the 75 companies that demoed their fintech on stage.
The votes have been cast and the ballots counted. And after two days of live fintech demos from 75 innovative companies, here are the best of the best: the companies our attendees have deemed FinovateFall’s Best of Show.
BlytzPay for its text-to-pay solution that makes billing and communication simple, streamlined, and secure while providing flexibility to pay by card, check, or cash.
Cinchy for its Data Collaboration Platform that lets data work the way it should: connected, controlled, and accessible for real-time collaboration.
College Aid Pro for its innovative technology, supported by a community of financial advisors, that changes the way America shops for college.
ebankIT for its omnichannel digital banking platform that helps banks and credit unions transform their businesses.
Glia for its technology that creates digital-first moments that simplify and transform communications between businesses and their customers.
MX Technologies for its platform that helps financial institutions and fintechs quickly and easily collect, enhance, analyze, present, and act on their financial data.
owl.co for its instant KYC/AML tool that automates enhanced due diligence on both individuals and companies.
Pinkaloo Technologies for its solution that helps financial institutions attract and retain customers and increase deposits and fees by powering their customers’ charitable giving.
Zogo Finance for its technology that leverages partnerships with financial institutions to reward kids for learning financial literacy.
Those in attendance at this year’s FinovateFall can attest to the energy and enthusiasm that characterized our conference this week. Congratulations to all 75 of the companies that demonstrated their fintech innovations on stage and a heartfelt thanks to our partners, sponsors, and onsite tech team for making this year’s autumn event a smashing success.
Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The nine companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2019 conferences are below: