- Tend, a personal finance solution provider, has confirmed that it will launch its collaborative app in the US and Mexico – with cross-border payment functionality expected to be added soon.
- Customers will be offered the chance to work with others to discuss their money needs while also being able to take advantage of a cashback scheme and a Visa debit card.
- “By making banking a collective effort, we ultimately believe the path to happier, healthier financial lives begins with bringing individual voices together and empowering them to chart their own course with the support of a community,” said a senior figure at the company.
Tend, a next-generation provider of personal finance solutions, has confirmed that it has launched a mobile phone app in Mexico and the US.
The company is based around membership and brings together social interaction with financial technology through the use of debit card rewards and other features.
Those who start using the Tend app will receive a Visa debit card and access to savings accounts.
Cashback schemes will also be offered, as will discounts at a number of shops.
A feature called ‘The Green’ will allow customers to connect, discuss money-related issues, and collaborate.
At some stage in the future, peer-to-peer and real-time international remittance and international money transfer features will also be added.
Tend’s target market includes those who do not currently have easy access to financial resources or financial education.
It is possible to use the app to both save and spend money.
Customers can also interact with each other on matters related to money and personal finance.
In a statement, James Dunavant, Tend’s chief executive officer, said that the firm wanted to make banking “a collective effort”.
“By making banking a collective effort, we ultimately believe the path to happier, healthier financial lives begins with bringing individual voices together and empowering them to chart their own course with the support of a community,” he said.
“Through membership, Tend’s goal is to eliminate the stress and complexity of managing money across many disparate financial services products, and increase financial literacy through real human conversation.”
Nathan Biles, who serves as the company’s chief technology officer, added that banking happened differently in everybody’s lives.
“Banking is a different experience for everyone,” he explained.
“We sought to create a platform where everyone can feel comfortable about banking, no matter if they are a first timer or veteran.
“The technology in the app is intended to provide an easy and human experience, something many banking apps don’t offer. We are excited to not only launch an app, but a community where people can become financially better together.”
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