New app Estu enhances student life with financial and lifestyle tools
Mbanq has announced the launch of Estu, a mobile app designed to enhance the financial and lifestyle aspects of student life in the USA.
The app leverages Mbanq’s Banking-as-a-Service (BaaS) technology and compliance solutions to provide students with a comprehensive tool for managing their finances and academic responsibilities.
Mbanq provides various financial services such as compliance, lending, and dispute resolutions to traditional banks, neobanks, credit unions and FinTech platforms.
Estu offers students a variety of features aimed at simplifying financial management and enriching their overall student experience. Through the app, students can open an Estu account and use a debit card for secure financial transactions through the app. The app supports checking accounts, peer-to-peer transfers, ACH, wire transfers, and contactless payments.
In addition to financial tools, Estu includes a calendar feature that helps students manage their academic and social schedules. The app syncs with phone calendars, allowing students to receive alerts for classes, assignments, and events.
Estu connects students with exclusive offers from various brands. Users can access discounts on concert tickets, tech gadgets, food, drinks, books, and more. The app aims to provide students with unique experiences and products that enhance their lifestyle.
Mbanq CEO Vlad Lounegov highlighted the app’s value, stating: “Estu’s unique value proposition of meaningful connections, events, and financial tools positions it as a pioneering platform in the neobanking space for students.”
Estu is looking to partner with more brands to bring additional products and services to students for the 2024-25 academic year. The app’s foundation is built on Mbanq’s BaaS platform, which combines advanced technology with regulatory compliance. This ensures that Estu provides a modern and secure digital banking experience.
Raul Wald, Founder & Chief Visionary Officer at Estu, emphasised the importance of Mbanq’s support, saying:
“Mbanq’s open banking APIs, technology and compliance solutions have enabled us to create a modern digital experience for students.
“Estu provides a more enjoyable experience for students, simplifying the process of organizing and managing their day-to-day lives. By streamlining the time-consuming tasks of personal finance management, Estu allows students to concentrate on their personal and academic growth.”
Lounegov concluded:
“With Mbanq’s resilient support, FinTech platforms like Estu can quickly launch innovative financial products while ensuring regulatory compliance. Our comprehensive ‘as-a-service’ portfolio, including compliance, lending, back office, and dispute resolutions, makes it easy for FinTechs to launch and thrive.”
