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Financial Training for Underbanked Small Business Owners and Independent Workers

Finklusiv success story

Finklusiv is a social enterprise that creates financial inclusion in Denmark by making financial training to bridge the gap between underbanked business owners and banks. It empowers individuals by providing them with the tools to become self-sufficient. The company aims to create a world where everyone has the opportunity to achieve their full financial potential.

uQualio Video Training Platform for End-User Training
Marie Birna Oufsdottir, Finklusiv CEO & founder

“The uQualio’s pay-as-you-go payment model allows us to start at low cost and scale our company rapidly. This educational video platform saves us considerable time in training small business owners, who require financial training to smooth their entry to banking.”

Denmark flag

Marie Birna Olafsdottir

(Founder of Finklusiv)

Background

Interview with Marie Birna Olafsdottir, Founder of Finklusiv.

The Challenge

Finklusiv is dedicated to helping small business owners and independent workers receive banking access in Denmark, even if their low barrier businesses are typically regarded as risky by the banks. The company mainly has immigrant clients who have unique needs when it comes to their relationship with banks. As part of its services, the Finklusiv offers crucial financial literacy training to its clients, so consequentely they can be better prepared and have a positive experience working with their banks.

This requires the company to spend a significant amount of time – about 2 hours per person – to explain the process to each client, individually. To overcome this problem, Finklusiv wanted to invest in a new training strategy involving digitization.

While hunting for a video eLearning platform, the company also needed to ensure that their chosen LMS was based in Europe because of two reasons:

  • Quick and hassle-free resolution of technical issues
  • The platform must conform to the strict GDPR regulations in the EU, so that the company can maintain full control over its clients’ data.

The Solution

uQualio emerges as a top solution for all the company’s issues with respect to financial training. The uQualio’s pay-as-you-go pricing model allows the company to start training at a low cost while assessing client response. Moreover, the existence of an open REST API increased the company’s future belief that uQualio was a match for their training.

Furthermore, uQualio makes the training process for the company easier, more visual, and digital. Finklusiv no longer requires sitting with its clients for hours in real time. The company now offers efficient financial literacy training services without the limitation of time.

The uQualio training platform enables Finklusiv to document to the banks that its clients understand specific anti-money laundering concepts and other banking compliance laws – and the certificate at the end of training is important proof to enable them to get the bank account.

The Result

With uQualio, Finklusiv’s clients now have access to an easy and effective training platform, which allows them to prove their understanding of the banking training, ultimately leading to a successful banking relationship.

The microlearning platform also allows the company to scale rapidly in the future. Digitizing its training with uQualio enables Finklusiv to increase trust with its partner banks, owing to the training program the company’s clients are going through. Not only does uQualio help Finklusiv save time and money, but it also improves communication between all parties.

uQualio makes it easier for Finklusiv to know its clients and understand the barriers they face as business owners. This increases the company’s likelihood of success with a knowledge center that specifically answers its clients’ most asked questions on how to run a business in a new country.

Currently, the company is working on developing a subscription offer using uQualio for its clients.

Finklusiv - helping the underbanked get bank accounts

What Finklusiv Thinks About uQualio for Financial Training?

The company is pleased with the opportunity to pay-per-use and considers it as an ideal choice for them. According to the Finklusiv founder Marie, the uQualio’s payment model is affordable, which flexibly adjusts with the company’s growth. She is particularly impressed with the uQualio’s quick and reliable IT Support, which is easy to reach out to when she has an issue, and thanks the Support Team for its timely responses and exceptional problem-solving abilities.

Since uQualio is based in Europe, Marie thinks that it can resolve GDPR and troubleshooting issues quickly and efficiently. She strongly believes that uQualio is the perfect digital training solution for small businesses and startups. Here is what Marie says:

Q: Tell us a bit about your company and what does it do?

“Finklusiv helps small business owners and independent workers receive banking access in Denmark. Our immigrant clients have unique banking-specific needs. Thanks to our partnership with uQualio, our clients have access to an easy and effective training platform, which enables them to enjoy successful banking relationships.”

Q: What was your problem before you chose uQualio? How did digitalization help?

“I used to spend a considerable amount of time – around 2 hours per client – explaining the process, individually. After digitizing the training process with uQualio, we have been able to scale our company rapidly. The transformation has been truly remarkable!”

Q: How did you first discover uQualio for Financial Training?

“I came to know about uQualio after meeting Hatla at the Tech Nordic Advocates entrepreneur network. Being based in Europe, uQualio allowed me to maintain control over my clients’ data and emerged as a top solution for all my training-related issues.”

Q: What made you choose uQualio?

“While I was initially skeptical about investing in digital training, the uQualio’s pay-as-you-go payment model impressed me a lot, as it allowed me to begin at a low cost while assessing client response. The availability of an open-source API further increased my confidence in the digital training approach.”

Q: Has uQualio resolved the problems you were hoping to solve?

“By creating 5 videos with uQualio, I am now able to save time as I no longer have to sit with them in real time. So far, up to 12 clients have gone through the videos, and the results have been extremely impressive.”

Q: How did uQualio benefit your organization?

“From enabling us to save time and money on training, to increasing trust with partner banks and improving communication between all parties, uQualio has significantly benefited my company. With uQualio, I can now document to the banks that my clients understand specific anti-money laundering concepts, and the certificate at the end of training is important proof.”

Q: What exactly did you like most about uQualio for Financial Training?

“While my overall experience is simply amazing, I am particularly impressed with uQualio’s quick and reliable IT Support, which is easy to reach out to whenever there is an issue. I am grateful for their quick responses and exceptional problem-solving abilities – it is a real asset!”

Q: What about the future of training at your company? How do you envision uQualio to enable your scale and growth?

“We are working on developing a subscription offer for our clients and I am thrilled to have chosen uQualio for this purpose. Understanding our clients and the barriers they face as business owners; we have the best chance of success with a knowledge center catered to specifically answer their most asked questions on how to run a business in a new country.”

Q: If you were to recommend uQualio, what would you say?

“Since I work with a lot of small businesses and startups, I would totally recommend uQualio to them. The payment model is affordable and adjusts with the company’s growth. Moreover, uQualio is based in Europe, so it can solve GDPR and troubleshooting issues quickly and efficiently.”

Finkclusiv testimonial

Learn more about Finklusiv

Finklusiv

Organization
Finklusiv ApS

Type
For profit

Location
Denmark

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