#USA #Boca Raton #Open Banking #GenAspire #Copper Banking

GenAspire Partners with Open Banking Solutions to Revolutionize Teen Banking

In an exciting development for the fintech landscape, GenAspire, previously known as Copper Banking, has partnered with Open Banking Solutions (OBS) to enhance its offerings for teenage consumers. This collaboration marks a significant stride towards empowering the next generation with essential financial literacy and banking services tailored for their needs.

Elevating Teen Financial Education

GenAspire's mission is to bridge the gap in financial literacy among teenagers by providing them with robust banking tools and educational resources. By partnering with OBS, a cloud-based banking solution designed for community financial institutions, GenAspire aims to equip credit unions with innovative tools to engage with younger demographics effectively. This partnership will enable GenAspire to expand its reach across schools nationwide, transforming complex financial concepts into relatable and interactive experiences for teens and young adults.

Addressing Key Challenges in Credit Unions

The collaboration addresses critical challenges faced by credit unions in today's competitive landscape. Many institutions are experiencing a decline in younger members due to outdated legacy systems that fail to adapt to modern financial needs. OBS’s next-generation core banking platform offers a solution, providing credit unions with a low-code, cloud-based system that streamlines operations and enhances service delivery. This allows institutions to efficiently meet the expectations of a new generation eager for innovative financial services.

Besides, both OBS and GenAspire are supported by Black Dragon Capital, a firm dedicated to advancing disruptive technologies in the financial services sector. This backing not only strengthens their capabilities but also aligns them with a mission that focuses on enhancing economic stability within communities.

A Partnership Built on Expertise

Kenny Stivers, General Manager of GenAspire, expressed his enthusiasm for the partnership, emphasizing how it aims to unlock new opportunities for credit unions by connecting them with the younger demographic. Stivers remarked, “GenAspire and Open Banking Solutions can help credit unions optimize their processes in complementary ways, and we are excited for this partnership.”

Joe Lockwood, CEO of Open Banking Solutions, echoed similar sentiments, highlighting the importance of financial literacy among young individuals. This initiative is not just about banking; it is about equipping the youth with the knowledge and confidence to make sound financial decisions.

Comprehensive Features of Open Banking Solutions

Open Banking Solutions offers a comprehensive core banking platform featuring integrated digital banking, account opening capabilities, workflow engines, management dashboards, and reporting tools, designed to grow with its users. The platform's flexibility ensures that it can integrate seamlessly with existing systems presented in financial institutions, enabling better user experiences and satisfaction.

By joining forces, GenAspire and OBS are poised to lead the way in engaging younger consumers in banking. Through their joint venture, they provide valuable tools for credit unions, enhancing their ability to operate and innovate and ultimately fostering a more financially literate generation.

Looking Ahead

As GenAspire embarks on this new chapter alongside Open Banking Solutions, the focus remains clear: to provide teens and young adults access to essential financial services and education. By facilitating access to their first bank accounts and comprehensive financial products, GenAspire is paving the way for financial independence among the youth.

This partnership is a testament to the evolving nature of fintech and its role in fostering economic empowerment in communities, especially among the younger populace that represents the future of banking.

With their combined efforts, GenAspire and Open Banking Solutions are not just keeping pace with the digital banking revolution; they are setting the stage for what the future of banking can be, creating meaningful connections that promote financial success and responsibility.