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Pana: Challenger bank for fastest-growing population in the USA 💵📲

Made for the 62M Latinos who have a $1.7T buying power and are mostly underserved 🚀

TL;DR:

Banking app for 62M Latinos in the US by a team out of Scotiabank’s Digital Factory & 3 consumer-focused Unicorns

Problem

Latinos are all looking for a banking product that speaks to our needs and worries

Solution

We’re building a new banking experience that starts by solving key pain-points:

  • Opening a US-Bank account online (linked to a Visa Debit Card) with just a passport instead of having to visit a bank branch with a painful paperwork when lacking an SSN
  • A friendly banking app with Group Chats we can join to lend or borrow money from each other globally instead of relying on Alternative Financial Services or cash
  • Sending remittances in minutes with zero fees vs paying on ave. 6% ($18 for the ave. $300 monthly remittance)

Team

We’ve previously built Digital Banking products for millions of customers in LatAm and have personally lived through the struggles of migrating to the USA.

Now, we’re on a mission to remove financial barriers for Latinos in the USA and we’re doing it with a social approach because we all know that not everyone might need a bank, but everyone needs a Pana (Spanish for pal).

Our ask:

  • Try out Pana & help us spread the word (IG/FB/in/Twitter)
  • Let us know of any business you know whose employees or potential buyers lack a bank account. Our product solves one of their biggest headaches