New fintech firm to launch services in Mexico
GlobeOne last week announced a partnership with InvestaBank and Bankaool that will bring the company's mobile banking product to Mexico later this year.
GlobeOne, a new financial technology company, last week announced a partnership with InvestaBank and Bankaool that will bring the company's mobile banking product to Mexico later this year. Through this new partnership, GlobeOne will provide a mobile interface for a suite of financial services offered by InvestaBank and Bankaool in Mexico, bringing bank services to those who are currently underserved by existing financial services, according to a press release.
"Only 45 percent of the population in Mexico has a bank account, which is why this partnership is an exciting development for Mexican consumers," said Michael Wolper, GlobeOne member and chief marketing officer. "Through GlobeOne's growing global network, consumers will have access to the basic financial services necessary to build a strong financial future, and banks will have a new platform to serve the many digitally connected Mexican consumers who do not participate in the traditional, brick-and-mortar banking system."
GlobeOne said it leverages mobile technology to provide a digital banking product that is expected to launch in the United States and Mexico in the fourth quarter of 2015. As new banking partners are secured around the world, additional countries will join GlobeOne's integrated global network. GlobeOne's app will offer paperless checking, a security savings account, a line of credit, domestic and international transfers between GlobeOne members, and access to the global income-building SocialBoost program, which gives members the opportunity to earn a new income stream while helping those who need it most, according to the announcement.
"We are excited to work with GlobeOne and launch a system, an app, which will add to our business model of financial inclusion in the country. Technology is part of every person's daily life, which is why this is a great opportunity to expand financial services to the unbanked and underserved population in Mexico," said Francisco Meré Palafox, CEO of Bankaool.