Posted August 24, 2021
For many people, the term “FinTech” might conjure up images of crypto futurists and HODL day traders. But Dania Beach-based startup OneBlinc is challenging this perception. This FinTech company offers financial products geared toward the more than 20% of Americans who, according to the Federal Reserve, are unbanked and underbanked.
This week, OneBlinc launched a new Mastercard debit card alongside a new checking account service. The announcement represents a milestone in the company’s goal to become the “one-stop financial management platform” for this segment of the population, CEO and co-founder Fabio Torelli told Refresh Miami.
OneBlinc primarily helps these consumers by providing them with small loans to help keep them afloat until payday. The company profits off of these loans, but Torelli says it’s an economically beneficial exchange because many consumers would otherwise be forced to pay hefty overdraft fees, or be fined for having insufficient funds in their account.
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