Why Do People Lack Access To Traditional Banking Systems?
There is estimated to be over 2 billion people, worldwide that remain unbanked and underbanked. These are the key reasons for this situation:
High Banking Fees
Banking fees are too high and there is little to no transparency of these fees.
Lack of Cooperation
Banks often decline business with an individual because of previously bounced checks or relatively minor overdrafts.
Youth is a Major Factor
According to FDIC data, about half of the people between 18 and 24 are unbanked or underbanked.
Bad Customer Experience
Unbanked people are driven to quit their banks because of a bad customer experience.
Black List Organizations
Individuals may be involved with a company or industry that banks do not want to support.
How UbiquiCorp Helps Them
UbiquiCorp's gives the underbanked and unbanked access to high quality, affordable financial services:
- Swift transfer regardless of the location of the originating and receiving entities
- Lower fees than banks or other standard money remittance providers
- Use our debit card to pay for goods and services with your T-BRYT tokens
- Purchases using smart phones at the point of sale
- T-BRYTs pegged to the USD and fully backed by cash and cash equivalents
- Transparent fees that will be lower than most banks