CUA Next will see Australia’s largest credit union work closely with Australian scaleups to build deeper and more meaningful relationships with members.
The program is looking for innovative solutions from potential partners to help bring CUA’s purpose to life, by creating an ecosystem of interconnected support services that improve the financial wellbeing of current and prospective members.
CUA is encouraging solutions that go beyond its core products and services, with applicants required to demonstrate how their innovations offer:
- Greater clarity around their financial situation;
- More control in positively changing everyday habits;
- Choice of maintaining today’s lifestyle while still attaining future financial goals or;
- Aspirations or connection with their community to help build financial confidence.
CUA Chief of Transformation and Subsidiaries, Steve Chugg said CUA Next was developed to help members to manage their finances and feel financially secure now and into the future.
“Research into the financial comprehension and aspirations of younger Australians highlighted that they don’t know where to turn for meaningful advice,” Mr Chugg said.
“The CUA Next accelerator program will be key to supporting this vision, and we are committed to assisting scaleup businesses to realise their business potential sooner by partnering with a leader in the mutual sector with a proud history of innovation. Ultimately, we want to move forward and bring the best ideas to market to transform CUA’s member offering.”
Industry-leading corporate accelerator partner, Slingshot will facilitate connections between CUA and later-stage scaleup businesses, and support participants throughout the CUA Next program.
Slingshot Co-Founder, Craig Lambert, said CUA Next is an opportunity for CUA to collaborate with the best and brightest fintech scaleups, who at the same time can benefit from exposure to CUA’s established member base.
“CUA is looking for a meaningful way to connect their members with the goal of financial wellbeing. Our accelerator can help them achieve this by connecting them with scale-ups that also want to improve their customers' experience in financial wellbeing,” Lambert said.
“As an innovation leader in the financial services sector we value the opportunity to collaborate with partners like Slingshot to find unique ways to empower our members, and we look forward to seeing where this initiative takes us next,” Mr Chugg said.
Australian scaleup businesses are invited to submit their applications from 17 October 2019 to 20 November 2019. For more information on the CUA Next accelerator program, visit cuanext.com.au.