The BCU-led CUSO will leverage Paperwork’s comprehensive technology to expand its mission of financial wellness for all
Life.Money.You.– the CUSO formed by BCU to spearhead its financial wellness efforts – has announced its partnership with Paperwork, a comprehensive financial wellness platform focused on improving the financial health of credit union members. The partnership aims to provide a more comprehensive and personalized financial well-being solution for the CUSO’s corporate partners and their employees.
“We’re excited to partner with Paperwork to deliver a semi-custom, cutting-edge financial wellness solution to our program participants,” said Bjorn Larson, executive director of LMY. “With Paperwork as its partner, LMY will be able to offer a cohesive and user-friendly mobile-first experience, branded as MoneyTracks™, that combines education, guidance, and personalized insights to help end-users achieve their financial goals.”
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Paperwork’s founders are no strangers to enterprise fintech solutions – the team pioneered robo-advisory services for the banking industry with their previous fintech startup, Jemstep (acquired by Invesco). Kevin Cimring, co-founder and CEO of Paperwork (and previously of Jemstep) is thrilled with the partnership: “Paperwork partners with credit unions to help hard working middle-class Americans achieve greater financial stability for themselves and their families. With LMY’s support, we can expand our reach and help more people achieve financial wellness. We are incredibly grateful to be working with the LMY team on this mission.”
Paperwork’s data-driven financial wellness platform includes a modern app that offers personalized recommendations and insights in a friendly, conversational format. Its technology analyzes a user’s financial data to provide actionable recommendations on savings, budgeting, insurance, estate planning and retirement, and helps them track their progress over time. If a member needs to speak with a financial coach, that is available directly from the app too.
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The partnership between LMY and Paperwork is part of a growing trend towards helping credit union members improve their financial wellbeing in challenging economic times. With this partnership, LMY is demonstrating its commitment to providing its corporate partners and their employees with the best possible financial resources and support.
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