Onuu Announces National Launch, Merging Financial and Insurance Products Under One App


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Onuu, the all-in-one banking and insurance solution, today announced the nationwide launch of its mobile app, now available in 45 states. Co-founded by serial entrepreneurs Felix W. Ortiz III and Ryan Wuerch, the highly anticipated app has attracted 600,000 waitlist members and aims to help Americans of modest means achieve financial security.

In the US today there are 166 million Americans of modest means who are excluded from America’s financial services system because of outdated financial systems that use factors such as creditworthiness, age, or address. Onuu addresses these challenges head-on by using artificial intelligence (AI) and machine learning (ML) in revolutionary ways. As AI and ML built on legacy frameworks continue to dominate the most basic automated processes in modern life, like applying for a credit card, AI bias often prevents Americans of modest means from accessing vital financial tools. Onuu is building modern technology that uses the same data to create new models tailored to people’s needs, paving the way to financial freedom, all under one app.

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Onuu’s tool suite includes the following:

  • Life Insurance: Every Onuu member receives a guaranteed offer of life or casualty insurance. Onuu has developed a tailor-made, unique insurance product for this target group.
  • Checking and Savings Accounts: Onuu offers customers competitive rates of 2% APY with its Growth Saver account.
  • Budgeting: Onuu’s automatic budgeting feature allows users to effortlessly create budgets for the things that matter to them.
  • Debit Cards: Onuu’s smart debit card in partnership with Visa allows users to see where their money is going and plan accordingly, access their money anytime, anywhere, and spend without debt.
  • AI-Powered Advice: Onuu’s AI Personal Finance Coach Candi, named after Felix’s grandmother, will provide personalized recommendations based on users’ behavior and financial goals.
  • Financial Security Score: Onuu Members get access to their Financial Security Score, which uses machine learning models to consider their income, regular and irregular expenses, insurance, savings, health, and financial behavior to provide a holistic measure of their overall financial well-being determine. Being.

“The launch of Onuu is a defining moment for financial security for many in this country. The American financial system was not designed for the majority of Americans and Onuu is working to change that,” said Felix W. Ortiz III, CEO and co-founder of Onuu. “I have my grandmother Candi to thank, not only for her tenacity in overcoming these financial obstacles, but for inspiring me to implement change for generations after her.”

The vision for Onuu came from Felix’s grandmother, Candi, who, like so many others, experienced the difficulties of navigating the US financial landscape when she moved to New York from Puerto Rico. The tools to provide financial stability and security were not readily available, fueling Felix’s desire to make a change.

“Onuu offers something no other financial services company offers — a chance to not only get a credit card, but financial management tools to help you build your creditworthiness and achieve financial security,” said Carla Francesca Soderberg, member of the Onuu waiting list. “At Onuu, my worth as a person isn’t based on my credit score or bank account balance, it’s based on who I am, which is incredibly important to me as someone on a very steady income.”

Onuu’s subscription membership service allows users to access essential financial tools from just $7.99 per month. Onuu can be downloaded from the Apple App Store and will be available in the Google Play Store this October. To learn more about Onuu, visit onuu.com.

About Onuu: Onuu is an all-in-one banking and insurance platform on a mission to democratize access to financial security for Americans of modest means. Currently available in 45 states, Onuu gives members access to essential financial tools including checking and savings accounts, a debit card, life and casualty insurance, budgeting tools, and an AI-powered financial coach, Candi. These tools work together cohesively to create a highly customized roadmap to financial security for Americans who are otherwise excluded from the financial services system. The founding team, which includes serial entrepreneurs and co-founders Felix W. Ortiz III and Ryan Wuerch, has more than 100 years of combined experience in financial technology. Visit onuu.com for more information.

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