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As technology advances, so does the way we deal with money. For a number of innovative Austin startups, that means making local banking just as tech-forward as banking with the national brands. For others, it means giving students and universities an easier way to access cash (well, scholarships). Read on to see how four Austin companies are transforming the way we deal with money, for the better.
Bank Local, with World-Class Mobile Apps
Made in Texas isn’t just a motto. It’s a way of life. So it makes sense that Austin-based startups want to bank locally, but as tech-savvy businesses, they want the latest and greatest financial tools at their fingertips.
Local credit unions and community banks offer a great alternative from the seemingly monolithic large banks based far from Texas. Community banks often offer great service, local knowledge and of course, they have roots in the community. But too often banking with these local institutions means giving up the slick apps and convenience that comes with large banks and their hefty-IT programs (think calling your bank instead of opening an app on your smart phone).
Three Austin-based companies are changing that. These three companies know that to compete, local banks need the same tools the giants have, but the small guys lack the big pockets needed to support a world-class IT team. In response, local Austin tech companies are bridging the gap in online and mobile banking for these credit unions and local banks. It means businesses and individual customers don’t have to give up conveniences to support local institutions (or have a banker who knows their name).
Austin-based Unwired Nation wants to make local banking easy. The company offers next-generation mobile banking apps for community banks and credit unions, meaning customers can have a tech-inspired experience with their local institution. Worried about security breaches with app-based banking? The company says its mobile banking platforms meet or exceed FFIEC security guidelines. Unwired Nation is bringing mobile banking to the smaller players and giving customers a great way to bank locally.
But Unwired Nation isn’t the only game in town. Austin-based Jwaala is transforming credit union and local community banking by providing those institutions with better online banking options for their customers. Their Better Banking™ tool is multi-platform, giving customers online and mobile banking tools. Jwaala provides customizable platforms, allowing each institution to decide what its customers need most. Jwaala provides both individual and business banking tools.
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And proving that mobile banking was on the Austin-radar a long time ago, we only need to look to Q2. With a decade in online banking under its belt, Q2 is helping local banks with online and mobile platforms. Q2 targets community banks, credit unions and regional banks. Their solutions help not only individuals but businesses. They even have “treasury management features” with functionality such as wire transfers and remittance processing.
Together, these three companies are making banking local easy. Get to know your local credit union and see what kind of amazing tech experience you can have with the little guys.
From Banks to Universities
Colleges might seem a far throw from banking, but most are incredibly expensive and require endless amounts of paperwork. Austin-based AcademicWorks knows that, and sorting through and applying for scholarships is unnecessarily complicated and prevents some students from getting all the money they’ve earned (it also means colleges aren’t able to give their students the best deal).
Their solution? A comprehensive, integrated scholarship management solution which allows students to apply to numerous scholarships with one application. It cuts down on the time students spend applying and helps streamline the administrative process for the colleges. It’s working too. Over 290 colleges, universities and foundations use AcademicWorks, including a few local ones: Texas A&M, Central Texas College and Communities Foundation of Texas.
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