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Guest blog post written on behalf of the CELect program by Victoria Gravett, MBA ’19; Paul Tychsen, PMBA ’19; Thomas Rogers, JD ’19; Jack Terschluse, JD ’19; and Jack West, JD ‘19.
St. Louis-based Finlocker is a secure, reusable, financial locker that smoothes the application process for a consumer loan. With the click of a button, the consumer can share their information when they want, with who they want, and for long as they choose.
Instead of the arduous process of a paper application, the consumer can upload and securely submit their documents online, saving time and money for both the bank and the consumer during loan origination.
In addition to helping consumers navigate the loan application process with transparency, security, and speed, Finlocker provides personal financial management tools to help consumers build their financial profile, manage their finances, and plan for the future.
As part of the fall 2018 CELect class, our team of JD and MBA students are collaborating to develop innovative features to improve “stickiness”—increasing consumer usage and further creating clients for life.
After surveying the competitive landscape, the team brainstormed new features to develop and potentially implement. The goal is to provide Finlocker with features that will allow them to take the next step in becoming a financial tool that consumers use daily.
Pictured above: Paul Tychsen, Victoria Gravett, and Jack West working on their project. Thomas Rogers and Jack Terschluse, also in our group, are not pictured.