The paradigm shift in the evolution of banking reversing the growth of bank deserts across the USA with high tech mini bank branch ATM "like" terminals in banks, Credit Union's and retail.
We provide basic bank and financial services to bank challenged market of 150 million people that traditional banks do not have a solution for. And we do it at a fraction of the costs. Consider vetting person and check, enrollment, bank account open with check deposited and debit card printed on the spot in <5 minutes for <$10!
Verses a traditional bank 45+ minutes at a cost of $300-$350 to set an account up!
150 million bank challenged people known as unbanked, underbanked, debanked.
Total market volume 2013 est at $320 billion
With $89 billion in fees, penalties and interest.
Grocery stores cashing 24% of the bank challenged market
Sub prime retail ie Rent To Own and Buy Here Pay Here 80% of customers w/o a bank account.
(See BuyHereBankHere video for auto dealers)
Banks and CU's w/o a product to offer the market.
To name a few...
Market Driven to Change by:
US Treasury Know Your Customer (KYC) regulations incl BSA/AML, OFAC etc...
CFPB rules for bank to KYC the Vendor of their bank services (ie grocery stores cashing checks)
Impossible for bank to KYC the Grocery stores customer for money laundering, ID & Check fraud without our solution!
Progress/Proof Designs, built s/w and h/w, patent issued.
Live debit platform tested at 1,000's of transaction per second.
Experienced IT dept.
Terminal prototypes and manufacturing ready.
Terminals running in test mode Orlando, FL office.
US bank partner ready
Money Remit to 80 countries
P2P and P2B transactions
Interchange FREE transactions for any retailer on the program.
Adoption by major int'l financial services group with full integration by eoy.
Pilots launching to their client base Q3 '16.
National automotive marketing group to resell BuyHereBankHere to auto dealers.
Verizon telco partner to resell to 2,000 retail stores
Pending $12 mm in sales to States of IL and MD for our prescription drug payment card version.