GlobeOne, a new fintech company, announced a Letter of Intent to enter into an agreement with MetaBank to bring GlobeOne’s global mobile banking solution to the United States later this year. As a recognized leader in the banking industry, MetaBank has been named among the top community banks and in the top-performing mid-sized banks in the nation.
GlobeOne plans to provide a digital ecosystem for a suite of financial services to be offered by MetaBank, including domestic and international transfers to community members throughout GlobeOne’s growing global network. Should a final agreement be signed by the parties, the solution also plans to include the patent-pending SocialBoost service, which offers members an opportunity to earn income from their banking relationship. The suite of services will provide valuable financial resources to the digitally savvy millennials and the underserved population by capitalizing on the explosion of access to mobile-based devices and the development of new technologies.
“The opportunity to work with MetaBank is a tremendous step in the evolution of the financial services industry to meet a pressing need for 68 million financially underserved U.S. adults,” said Michael Wolper, GlobeOne member and Chief Marketing Officer. “We are committed to working with MetaBank and other financial institutions in the U.S., and with our growing global network, to enable people around the world to achieve their financial goals.”
GlobeOne expects to launch in the United States and Mexico in the fourth quarter of 2015, and it will expand its integrated global network as new banking partners are secured around the world. GlobeOne’s innovative app will offer a no-minimum demand deposit account with debit card, a security savings account, a line of credit, domestic and international transfers between GlobeOne members, and access to the global income-building SocialBoostTM program, which gives members the opportunity to earn a new income stream while helping those who need it most.
“GlobeOne brings some innovative new ideas to financial services that seem to fit well with our vision of promoting financial inclusion for everyone,” said Brad Hanson, President of MetaBank. “GlobeOne’s mobile platform could be an answer to helping us achieve our vision while providing consumers with a path toward greater financial security.”
GlobeOne recently announced bank partnerships with InvestaBank and Bankaool in Mexico to bring its global mobile banking solution to consumers in Mexico.
GlobeOne is a fintech company providing an innovative platform for a global community of networked member banks, corporations, and individuals. GlobeOne’s digital ecosystem offers a suite of financial services to individual members while also providing a global solution to the problems of financial exclusion and financial inequality. Capitalizing on the explosion of access to mobile-based devices and the development of new technologies, GlobeOne is collaborating with a network of member banks to create a global community which collectively has an opportunity to earn income from its banking relationships, transfer funds domestically and internationally between members, establish no-minimum demand deposit accounts with debit cards and create security savings accounts with lines of credit.
Headquartered in Santa Monica, CA., GlobeOne was established in 2013 by a group of socially-minded entrepreneurs – all accomplished leaders in their respective industries. GlobeOne’s mission is to create financial inclusion and financial opportunities for the growing number of dissatisfied and underserved consumers around the world to help improve their financial well-being. For more information, visit www.globeone.com.
MetaBank, through its Meta Payment Systems (MPS) division, delivers innovative financial products that change the way people use, borrow and manage money. Based in Sioux Falls, S. D., MPS is a recognized leader in the prepaid card industry and provides innovative payment solutions delivered nationally in collaboration with market-leading partners. MPS focuses on offering specific product solutions in the following areas: prepaid cards, credit products, ACH origination and ATM sponsorship. Meta Financial Group, Inc. (nasdaq global market®:CASH), is the holding company for federally chartered savings bank MetaBank, Member FDIC. For more information, visit metapay.com
Disclaimer:The signing of a non-binding Letter of Intent with MetaBank signals the beginning of formal discussions between the parties. These discussions may result in a definitive agreement that would bring GlobeOne mobile banking services to the US in the future. While the LOI is non-binding and there is no guarantee that any definitive agreement will be reached, if the negotiations are completed successfully and a definitive agreement is signed, GlobeOne would provide a global mobile-based interface for a suite of financial services that would be offered by MetaBank in the United States.