OLYMPIA, Wash.–Q Cash Financial, which began its life inside a credit union and is now a startup provider of automated, cloud-based, omni-channel small dollar lending platform for financial institutions, said it continues to add clients and grow its business..
In 2015, QCash Financial launched QCash V5.0, further extending the solution’s ability to provide greater flexibility when offering short-term loans and introducing Spanish language support for web, mobile channels and loan documentation, to provide an enhanced member experience, the company said.
QCash Financial has also launched a collaborative relationship with Filene Research Institute to conduct research related to small-dollar, short-term lending. This collaboration will include a webinar series focused on payday lending alternatives in the credit union industry.
“Since our launch, our company has generated significant interest among the financial industry community, in particular, beginning important relationships with policy makers, industry think tanks and engaging with financial institutions as potential customers,” said Ben Morales, CEO of QCash Financial.
The QCash loan platform was developed in 2004 by Washington State Employees Credit Union after its tellers noticed a substantial number of its members required small, short-term loans from payday lenders that were charging excessive fees and interest rates. It is offered as a white label solution to financial institutions.