The Problem
The Black and Brown communities have largely been excluded from actively participating in the financial system
- More than 25% of U.S. households are unbanked or are underbanked
- A staggering 86% of all underbanked U.S. households are people of color. (FDIC )
- Many use high-cost services like money orders, check cashing, International remittances and predatory lending (payday, refund anticipation, pawnshop, and auto title loans), costing in excess of $100B.
Paybby Digital Banking
Paybby offers a smart banking solution for Black and Brown communities. With the Wicket app (available on both iOS and Android smartphones), users can open both a free digital checking and saving accounts and start banking. There is no waitlist or hidden fees. Additionally, through Wicket, Paybby will offer a more transparent and trustworthy banking experience. This will be achieved by the utilization of cutting-edge, blockchain and AI technology to develop enhanced KYC and the Paybby ‘Trust Engine’ that demystifies the complexities of the “banking black box” providing financial transparency unlike any other option on the market.
Paybby plans to become the most trusted financial institution in the Black and Brown communities by supporting hyper-transparency of information about the services offered, pricing, and the operations of the Bank. The days of opaque banking that create distrust are over. This is our time. Join us now.