Local banking

I want to disrupt the check cashing industry. It’s a drug dealing enterprise disguised as financial services. Let’s get families out of the cycle of depending on this industry and cash.

TODO list to get started:
- Get families living at the poverty level setup with a local bank account so they can convert paychecks or other income into a manageable account. The local bank component is critical to broker a relationship between people who need this service and banks who should get to know and invest in their immediate communities.

- Through the use of a local bank account educate poverty level families on sustainable personal finance practices.

- Moving poverty level families dependent/addicted to cash into using a local bank account is a significant culture change. Advocacy could start with a joint campaign lead by local bankers and rental property owners, who take the largest percentage of their income.

- Other advocacy partnerships could be with grocery stores, community centers, libraries, churches. Then follow up with family support groups who help poverty level families make the transition.

This could all tie in with an emerging market phone product; something in between a feature phone and smartphone.
Local Bank Workflow

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s