Ep. 99: UULALA: Using Fintech to Bring The Cash-Based Community Into The Mainstream Economy

Spot On Insurance

Oscar Garcia is the Founder and CEO of Uulala, a blockchain-powered company that seeks to support the financial inclusion of under-banked and unbanked groups of people through a smartphone app. Before becoming an entrepreneur, Oscar wanted to become a US Olympic diver. An unfortunate injury caused him to transition to business and eventually led to starting Uulala. He is joined by Andre Urena, vice president and Head of Latino Partnerships.

Oscar and Andre join us today to share the goal of Uulala and how it helps people have financial credibility despite their under-banked or unbanked status. They discuss their humble beginnings and what inspired Oscar to develop Uulala. They explain the need for this type of technology and describe how it works, citing real-world examples. Oscar also shares his wisdom when it comes to starting, running, and scaling a business.

“You will get more referrals from people who like you than from those you treated as another number.” - Oscar Garcia

Today on Spot On Insurance:

• What inspired Oscar to start Uulala
• How his swimming career came to an abrupt end.
• Some of the biggest struggles he encountered as an entrepreneur.
• How Uulala can help millions of people with electronic money transfers and loans.
• How their technology can integrate with the banking industry.
• How the insurance industry can benefit from using Uulala.
• Regulatory hurdles they faced along the way.
• What's in store for Uulala in the near future.

Key Takeaways:

• Technology is great, but if you're not human to other people, you won't go far in any business.
• One of the biggest problems with industries is they're fragmented.
• Technology saves time and saves money, but it could also be used for social impact.
• Your family is one of the biggest supporters and challenges in business.
• In building a business, you have to get rid of every single negative person in your life.

Resources mentioned:

• Opening the gates of the digital economy

Connect with Oscar Garcia:

• Uulala
• LinkedIn

Connect with Andre Urena:

• LinkedIn

This episode was brought to you by…..

Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com.

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