BECU and CoMotion partner to create Seattle fintech hub

UW CoMotion has partnered with BECU, Washington’s largest community credit union, to create a fintech hub in the Seattle region, which includes the launch of the BECU FinTech Incubator at CoMotion Labs. Fintech startups, Noonum and Warren, are the first two members. The collaboration combines BECU’s expertise in broad-based financial services, data analysis, and customer experiences with CoMotion’s strengths in incubation, partnership, innovation, company formation, and technology commercialization.

The technology strengths and resources of greater Seattle and the UW ecosystem make a powerful combination that is poised to build the next generation of financial services innovations. In addition, the roll out of public ledger (blockchain), cryptocurrencies, and smart contract-enabling platforms by cloud and enterprise software providers is timely for engaging the best minds to focus on financial services innovation.

“Our collaboration with CoMotion is in line with BECU’s goal of driving innovation in the financial services space,” said Tom Berquist, senior vice president of Marketing and Cooperative Affairs at BECU. “This focus on financial services innovation will benefit a large section of the community at a time when technology and disruption are simultaneously beneficial and potentially polarizing.”

“CoMotion is driven by an inclusive notion of innovation that consists of interdisciplinarity, teaming, leading meaningful change, and building products and deliverables that create impact,” said Vikram Jandhyala, vice president for innovation strategy at the UW, Professor in the Department of Civil and Environmental Engineering and executive director of CoMotion. “The fintech area is inherently interdisciplinary, and the emphasis of BECU on financial health and inclusion makes the partnership additionally synergistic.”