Background
Interview with Marie Birna Olafsdottir, Founder of Finklusiv.
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.
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 consequently 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 for:
- 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. uQualio’s pay-as-you-go model allows low cost training while assessing client response. Moreover, the 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.
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:
