Mobile Banking Platform Wins Think 14 Prize: Onsite Coverage
NEW ORLEANS — Christopher Whalen, a marketing and e-services specialist for the $416 million Connex Credit Union in North Haven, Conn., won CO-OP Financial Services’ THINK 14 Prize for his idea for an app that will make sophisticated mobile banking technology available to even smaller credit unions.
Dubbed MobileOne, Whalen said in an application video that his idea arose out of the frustration he felt at reading about cutting edge mobile technologies that seem restricted to larger financial institutions. MobileOne will be scalable so that credit unions of different sizes could adapt it to their member needs, Whalen said.
MasterCard supports the prize with $10,000 for the winner that was awarded to Whalen at the CUSO's Think 14 conference on Thursday.
As Whalen explained the idea to the judges in his business plan, "MobileOne will be an exciting new mobile platform that provides a complete financial solution for credit union members across the country. MobileOne will make mobile banking truly mobile banking. (The vision is) to consolidate fragmented mobile solutions from within and outside the credit union industry into one platform."
Stan Hollen, president/CEO of CO-OP Financial Services, said, “Our goal with the CO-OP THINK Prize is to promote and inspire creative thinking on industry issues, and each of the three final business plans were wonderful displays of that.”