The Latest

Texas-based Start-up Launching New Mobile Bank For Latinos

Viva First - Home | Facebook

LUBBOCK, Texas, Oct. 8, 2020 /PRNewswire-HISPANIC PR WIRE/ — Lubbock, Texas-based startup, Viva First, is launching a new mobile bank with the Latino community in mind—all 52 million in the United States. While so many banks and fintech companies take a broad approach when catering to multiple demographics, the company sees a real opportunity to bank this underserved market.

When looking at the financial habits of Latinos, they are traditionally a cash-heavy group that has a 22% lower adoption rate for traditional checking and savings accounts when compared to their Non-Latino counterparts—but they’re ready for a solution. Internal research finds that 30% of Latinos would consider switching banks if an in-language mobile banking experience was available.

This is where Viva First plans to win.

Several cultural, behavioral, and trust barriers have prevented Latinos from adopting certain financial services. The company aims to remedy that through a Spanish-first approach and a ground-up technology platform specifically designed to cater to Latino preferences. The company has also crafted public-facing messaging and customer service to provide a uniquely-Latino experience that delivers a high level of dignity that is lacking from other institutions. 

“The Latino community has largely been banked in the wrong way with misguided practices. We’re going to deliver a banking solution that truly speaks their language and gives them every account feature they could ever expect. We’re talking about a very influential demographic that deserves real attention. And we’ve tailored a financial relationship just for them,” says Chief Evangelist, Natalia Muñoz-Moore.

Viva First - Home | Facebook

While the mobile bank is curated for Latino clientele, it is open to everyone and the company’s product teams have engineered functionality that any customer can appreciate. “Just about every bank has an app, most of which are fairly cookie-cutter. We wanted to architect a better mobile experience than our community- and mega-bank peers. When it comes to the technology and customer experience, we spent a great deal of time building a better product,” Muñoz-Moore explains.

Every account comes standard with industry-leading security, Visa™ debit cards, smart saving recommendations, highly-personalized messaging, and are FDIC-insured up to $250,000. The Viva First accounts will be sponsored by Spur Security Bank in Spur, Texas.

The startup is currently in its alpha phase of testing and plans to launch its fully-featured mobile app in 4th quarter of 2020 in select markets. The first areas to be opened up for customers will be located in Texas including El Paso, San Antonio, and parts of the Rio Grande valley. Viva First already has plans of introducing some first-to-market features soon after the rollout is complete.

Users wanting to open an account can join a waitlist at vivafirst.com and get notified of availability as new markets are opened up.

SOURCE Viva First

CONTACT: Jim Simpson, Viva First, 877-495-7092, contact@vivaequity.com
Click to unsubscribe

This information is being sent to you by: / Esta información se le envió a través de:
PR Newswire, A Cision Company
200 Vesey St., 19th Floor, New York, NY, 10281
www.prnewswire.com

You are receiving this transmission from PR Newswire on behalf of the issuer of the information contained in this email. / Está recibiendo esta difusión por PR Newswire de parte del emisor del comunicado de prensa en este email.

If you would like to continue receiving press releases but this is not the type of news category that you would like to receive please contact Jessica.Alas@cision.com to change your category preferences. / Si quiere seguir recibiendo comunicados de prensa, pero este no es el tipo de noticia que desea, favor de comunicarse con Jessica.Alas@cision.com para seleccionar otras categorías de noticias.

Link to website: https://www.vivafirst.com/

Leave a comment

Your email address will not be published.


*


wp ecommerce - e-commerce wordpress