Globally, the several billion people left behind by broken economies and traditional banking routines and legacy systems need a solution. That’s why we’re launching Unbanc. A new common sense approach to financial services that works for the majority, not just the fortunate few.

An Unbanc account combines cryptocurrency and blockchain technology with simple banking services, credit facilities, and a prepaid debit card, all managed through a mobile app. It’s built based on the way people conduct their lives. Not the way banks conduct people’s lives.

Now anyone with a phone can participate in the economy by opening an Unbanc account. No proof of citizenship required, no birth certificate required, no home address required, no local currency or minimum balance required.

Everybody can store value digitally in whatever currency they want, and make payments instantly with global interoperability, with a very high level of security, and without privacy leakage.

Unbanc radically lowers the cost of transmitting funds as remittances, purchases, withdrawing money, obtaining credit, investing, and pretty much everything else financial, all on your phone.


Executive summary.

Unbanc is a licensed brand of Mobile Lads Corp, a publicly traded company listed on the Over the Counter Markets (OTC:MOBO).

Unbanc's focus is to leverage proprietary mobile banking and telecommunication solutions custom tailored for the 118 million unbanked and underbanked adults living in the U.S.

Our goal is to become a top 10 leader in mobile banking amongst our target. 


The unbanked and underbanked market.

50 million U.S. adults do not have a bank account. Another 68 million are underbanked, ie. they may have a bank account but rarely use it, instead relying on cash transactions or alternative financial service providers. Overall, a quarter of U.S. households are financially under-served.1

Young people are also disproportionately unbanked. For example, more than 75 percent of youth aged 15 to 17 do not have a bank account; for those 18 to 20 years old, the proportion of unbanked is 50 percent.2

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Lack of trust, overdrafts, and fees are the main reasons cited for not having a bank account or using a traditional bank.

  • For many unbanked and underbanked consumers, banks are simply foreign entities.
  • They do not consider banks to be relevant to meeting their financial services needs.3
  • They believe that banks are only interested in serving wealthy customers.3
  • The environment inside banks feels foreign or intimidating to them. Some consumers are concerned that they are likely to be rejected by banks.3

A majority (57.5%) of unbanked households reported not having enough money to keep in an account or to meet a minimum balance as one reason they did not have an account, and slightly more than one-third (35.6%) of all unbanked households reported this to be the main reason.4

34.2% of unbanked households said the reason to not have a bank account is their dislike of or distrust in banks. Moreover, slightly more than one in seven (14.9%) unbanked households reported it to be the main reason for staying away from the banking industry.4

Further, almost one in three unbanked households (30.8%) reported high or unpredictable account fees as one reason they did not have accounts.4

63 percent of unbanked respondents have never had a bank account. 22 percent previously had an account, but later opted to close it and remain unbanked.5


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For the unbanked, the inability to easily load funds either via check—which is how they most often receive income—or cash onto a smartphone is the most.

The unbanked and underbanked market significant barrier to use, even more than concerns about safety, which is the top concern among banked consumers.

 

Income disbursement by banked status.

 

60% of unbanked consumers have smartphones

Unbanked consumers are twice as likely as banked consumers to be without a cellphone, despite the fact that more than half of them have smartphones. Further, most unbanked consumers who own basic mobile phones don’t plan on buying a smartphone in the next year.

Cellphones can be especially costly for lower-income consumers, such as most of the unbanked. Shared or family plans—which 68 percent of smartphone owners use—often cost between $100 and $200 a month.

 

Cellphone ownership by banked status, compared with the U.S. population 6

 

A global opportunity: $133.5 billion in remittances was sent from the U.S. to other countries

 

Worldwide, an estimated $582 billion USD was sent by migrants to relatives in their home countries in 2015. Remittances sent by migrants are about double what they were a decade ago, before the sharp decline in the global economy during the late 2000s.

With the exception of 2009, migrant remittances worldwide have steadily climbed since the World Bank began releasing estimates in 1970.8

 
 

The top 10 unbanked large cities.

More than 100,000 households7


The overlapping millennial market

Source: Accenture 2017 North America Consumer Payments Pulse Survey

Source: Accenture 2017 North America Consumer Payments Pulse Survey

The roughly 80 million millennials in the United States (according to the U.S. Bureau of Labor Statistics) surpassed Generation X as the largest demographic cohort in 2015. They spend approximately $600 billion annually - projected to rise to a whopping $1.4 trillion by 2020 - accounting for 30 percent of total retail sales, according to the ‘Who Are the millennials and What Do They Really Want?’ report by Accenture.

The Cassandra Report (which tracks generational trends) found that this demographic is “turned off” by banks because they do not offer appealing products and services. 

Scratch, a subsidiary of Viacom, which surveyed  10,000 people born between 1981 and 2000 as part  of a project called the Millennial Disruption Index, reported that banks are not only among the most unlikable brands with this demographic, but one-third of those surveyed believed they would not need a bank at all in the future.

 
Source: Accenture 2017 North America Consumer Payments Pulse Survey

Source: Accenture 2017 North America Consumer Payments Pulse Survey

5 million millennials don’t have a checking account, citing distrust in banks as the main reason.

A report by the Center for Generational Kinetics said that some 5 million millennials don’t even have a checking account, citing distrust in banks as the main reason.

The Millennial Disruption Index (which studies millennial industry disruption in the US) found that 71% of millennials would rather go to the dentist than listen to what banks are saying and a third of those surveyed are open to switching banks. US millennials expect a seismic shift in the financial services sector. They believe innovation will come from outside the industry and would be more excited about a new FS offering from Amazon, Google, Apple, Square or PayPal than from their own nationwide bank.

93% of millennials use mobile to manage some aspect of their financial lives, according to Jumio Corp’s 2016 ‘millennials Speak Out on Mobile Banking.’ In fact, 80% of millennials have applied or attempted to apply for a bank account via their mobile device.

 
 

More than 68% of millennials bank on desktop
or mobile most frequently

Source: Oracle © November 2016 The Financial Brand

Source: Oracle © November 2016 The Financial Brand

 

Product and value proposition.

An Unbanc account combines emerging cryptocurrency and blockchain technology with simple banking services, credit facilities, and a prepaid Mastercard or Visa, all managed through a mobile app. It’s built based on the way people conduct their lives. Not the way banks conduct people’s lives. 

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A pre-approved mobile bank account and Mastercard or Visa.

  • Deposit checks

  • Send money to anyone, anywhere in the world

  • Withdraw money from bank machines

  • Buy stuff

  • Pay rent and bills

  • No credit check required, everyone is pre-approved

  • Improve your credit rating

  • Includes a pre-approved Mastercard

  • Fully secure, and FDIC registered

  • Your bank, debit card, credit score, and phone plan in one monthly statement


A great opportunity.

Total Available Market:
2 billion unbanked, worldwide
(Global Findex, The World Bank)

Serviceable Available Market:
115 million unbanked/underbanked in the U.S.
(Forbes, FDIC, PayNearMe)

Serviceable Obtainable Market:
2 million unbanked/underbanked, Greater Miami Florida
(Prosperity Now, formerly CFED.org)

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Why invest in Unbanc?

Unbanc’s proprietary financial services technology combined with emerging cryptocurrency and blockchain technology along with a network of powerful partners, including Mastercard, Visa, First Global Data, and Transunion is a unique and timely alternative to traditional bank legacy financial systems, high fees, and infrastructure. 

Unbanc is custom designed for the unbanked, underbanked, and millennial market, catering to their needs and desires. In its simplest form, with Unbanc everybody can instantly open a pre-approved mobile bank account with no credit check. Everybody is financially included and can make purchases, pay bills, transfer money, at radically lower costs, and therefore have the chance to build prosperity.

With the addition of blockchain technology, Unbanc provides customers with a zero fiat to crypto conversion rate, better security, convenience and speed — that traditional banks do not offer and cannot match.

Since Unbanc’s target audience is not entrenched in old-fashioned banking routines, attitudes, and a network of physical branches, they are more likely to embrace the Unbanc mobile account option. 

Our initial market is the 2 million unbanked and underbanked in Greater Miami, Florida. Based on success, we’ll roll out to other unbanked markets in the U.S., Canada, and then throughout the world.

Unbanc is fully operational and will be launching in Florida in Q1 2018. Our management team, along with our category dominating network partners are experienced, not only in the mobile and financial category, but in launching, managing, and operating high-growth products and companies.


How to invest in Unbanc.

We are listed on the Over the Counter Markets, ticker MOBO (OTC:MOBO). The company’s common stock is available for purchase online, through a registered stockbroker. Most online brokerage firms also allow you to purchase stock.

Accredited investors who wish to subscribe for shares directly from the company may do so by completing a copy of our Subscription Agreement and delivering to us the completed documentation and payment for the shares.  For more information, and a copy of our Investment Kit, including our Fast Facts, Investor Deck, Business Plan, and Subscription Agreement, please email us at investors@unbanc.com.



Footnotes:

  1. 'Money 20/20,’ Forbes, FDIC, PayNearMe, 2014
  2. FDIC survey, 2013 ‘Unbanked or underbanked households
  3. ‘Bank Efforts to Serve Unbanked and Underbanked Consumers,’
  4. FDIC, May 2016
  5. ‘Payment aspects of financial inclusion,’ World Bank Group, April 2016
  6. ‘Unbanked by choice,’ – Pew Charitable Trusts, 2010
  7. ‘What Do Consumers Without Bank Accounts Think About Mobile Payments?’ Pew Charitable Trusts, June 2016
  8. “The Most Unbanked Places in America”, 2009, CFED.org
  9. World Bank 2015 Bilateral Remittance Matrix

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Last updated Jan 10, 2018.

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