New banking and insurance app Onuu goes live in the US

Onuu, an all-in-one banking and insurance platform, has launched a nationwide mobile app available in the Apple Store with its Android rollout planned for October.

Onuu launches across the US

Founded in 2021 and headquartered in Austin, Texas, Onuu aims to “make financial security accessible to Americans of modest means” and has 600,000 members on a waiting list. claim to be.

Onuu offers financial tools such as checking and savings accounts, Visa debit cards, life and accident insurance, budgeting tools, and AI-powered financial coach Candi through a subscription membership service starting at $7.99 per month. We aim to provide.

In addition, Onuu offers its members a “financial security system” that uses machine learning (ML) models to consider income, regular and irregular spending, insurance, savings, health, and financial behavior to determine its measure of “financial security.” Provides access to scores. overall financial well-being.

Onuu claims that more than 166 million Americans are “kicked out” of financial services due to an “outdated” financial system that takes into account credit scores, age and residency.

“As artificial intelligence (AI) and ML built on old frameworks continue to dominate the most basic automated processes of modern life, such as applying for a credit It often prevents Americans with modest means from accessing essential financial tools,” says Up.

“Onuu is using the same data to build modern technology, creating new models designed for people’s needs, and paving the way to financial freedom, all in one app.”

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