Jun 08 2020
FinTech Catalyst Incubator: Steady
Through a partnership with CMFG Ventures, Filene Research Institute continues the work of the FinTech Catalyst Incubator to test promising concepts that could make a difference in the credit union marketplace. In this report we analyze the desirability and feasibility of Steady and if it can create a positive influence on the member’s and credit union’s financial health.
In the next several years, more than half of the workforce will consist of independent work. This socio-economic shift faces a growing demographic with unique financial needs, specifically income instability.
During a three-month pilot, Filene tested a unique solution to address consumer challenges and assess the concept’s desirability, feasibility, and viability. Knowing that 46% of independent workers find it difficult to deal with unpredictable income, Steady, an income-building, mobile platform, can help connect consumers with independent and part-time job opportunities.
Filene's Fintech Catalyst Incubator is generously funded by: