Sensedia, an API management and integration firm, has announced a new partnership with Kachinga, an innovator in financial literacy solutions for young people. This collaboration aims to enhance youth banking offerings for credit unions by facilitating the seamless integration of Kachinga’s white-labeled financial education application.
Kachinga provides a turnkey, white-labeled youth banking and financial education app designed for credit unions to brand as their own. This includes a custom-built native mobile app for iOS and Android. Unlike co-branded solutions that may reroute deposits through a vendor’s financial network, Kachinga directly connects to the institution’s demand deposit accounts (DDAs), ensuring that deposits, data, and member relationships remain fully with the credit union. This model allows credit unions to maintain ownership of the member relationship, fostering loyalty and supporting sustainable member growth.
The partnership addresses a significant challenge in youth financial literacy, with statistics indicating that 54% of Americans live paycheck to paycheck and many teens lack essential money management skills upon reaching adulthood. Credit unions are positioned to address this gap, and Kachinga’s solution provides a tool to do so at scale.
Bill Butler, CEO of Kachinga, stated, “Sensedia came highly recommended for their transparency and the trust they’ve earned in the industry. We needed a connectivity and API management partner who could ensure our solution integrates seamlessly, empowering credit unions to enhance the financial literacy journey for families.” Mr. Butler emphasized that Sensedia’s platform supports their white-labeled solution by allowing credit unions to maintain direct member engagement and asset ownership. “With Sensedia’s expertise, we can accelerate integration and confidently take our solution to the next level,” he added.
Sensedia’s platform will provide Kachinga with the flexibility to access necessary core data to support and scale its operations while maintaining robust governance and security. Sensedia offers API management (APIM) and Integration Platform as a Service (iPaaS) capabilities, which are designed to deliver governance, security, and scalability in a timely manner within the global fintech and financial services market.
Lisa Arthur, SVP of Sensedia USA, commented on the collaboration, stating, “Sensedia is proud to empower credit unions and fintech partners worldwide to seamlessly integrate, innovate, and accelerate their growth. Kachinga is a perfect fit for our strategy of connecting fintechs with established financial institutions of all sizes – a win-win that’s rare in today’s challenging landscape.” Ms. Arthur highlighted that their platform contributes to higher ROI, faster time to market, and more impactful products for members. She also expressed enthusiasm for supporting Kachinga’s mission to advance youth financial literacy and assist credit unions in attracting and retaining families and the next generation of members.
Sensedia’s commitment to U.S. credit unions extends to its partnership with Mitchell, Stankovic & Associates (MSA). Through this collaboration, Sensedia aims to offer a Credit Union Shared Services (CUSS) model, leveraging technology and collaboration to enable credit unions to enhance their product and service offerings.
Kachinga, founded in 2018, specializes in providing financial literacy tools, software, and programs. The company’s app is designed to empower young individuals to manage their financial futures while offering financial institutions a tool to engage members across all age groups. Sensedia is a technology provider that supports companies in digital transformation, connectivity, and open ecosystems through its platform and expertise in APIs and Microservices, including API Management, iPaaS, Open Banking, and rapid legacy integration.
