Why We Started This Company
Since the 1940’s, with the exception to ATMs and credit, payments and banking have remained relatively stagnant from a customer’s perspective. Our spending and behavioral habits have fundamentally shifted, yet the services offered by banks have not. Social and commerce are converging, new ecosystems are emerging, and consumers now want more modern and interactive functionality. Big banks are trying, small FIs are struggling. It sets a great backdrop to the next banking revolution, Banking 2.0.
What Sets Us Apart
Waspit is the first 'student focused' multi-channel engagement banking platform to seamlessly bring the digital ecosystem into a single user experience, blurring the line between the physical and digital worlds of commerce. It combines traditional banking features with deep social media integration. The platform, inclusive of its personal financial management tools, fosters fiscal responsibilities, prevents users from getting into overdraft, and aids them in making smarter purchasing decisions.
Our Keys To Success
Some of the features include split-the-bill, instant money transfer, auto Foursquare and Facebook check-in capabilities, deals, reviews, and Waspit's unique Thumbscore rating system. Another impressive feature is the predictive algorithms, which look at a user’s spending, search, location, and financial management objectives, allow it to subtly present very precise suggestions to users on offers relevant to their individual lifestyle, or matters relating to their personal financial management.
Waspit currently has 125+ paid Brand Ambassadors at 74 colleges, and is expecting to be on 200+ college campuses by years end. Its Brand Ambassadors are primarily responsible for generating brand awareness of the product, organizing Waspit sponsored events, but also being the drivers of user sign-ups. The program came into effect at the commencement of Fall 2012 semester and has generated thousands of registrations.