Olympia-based credit union service organization QCash Financial has been selected the winner of the Future of Fintech Innovation Award by the Financial Times trade publication.
QCash provides cloud-based technology to enable financial institutions to provide short-term loands quickly to the people they serve. The company, which started as a short-term load solution for members of WSECU in 2004, is a wholly owned subsidiary of Olympia credit union.
“We liked (QCash) because it was an alternative to payday lending and an instance of an established financial institution doing something innovative,” said Financial Times in an overview of the 10 finalist companies.
“We are honored to be selected as the Innovation Award winner from among so many prestigious international companies,” said Ben Morales, CEO of QCash Financial. “To see our solution develop from a homegrown idea to public recognition on the international stage has been deeply moving. Financial service organizations everywhere should consider how to offer consumers a better alternative to expensive payday loan products; the QCash platform is our solution to the problem.”