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We spoke with Blanca Vespe, Business & Partnership Development Manager with Dora Financial, who brings credit union experience, cultural intelligence, and dedication to fulfill Dora’s mission and credit unions’ underlying purpose of helping people.
We spoke with Blanca on how we can make fintechs more inclusive and accessible to communities who’ve been excluded from traditional banking solutions.
What is Dora Financial and how are you addressing the needs of the communities you serve?
Dora Financial is the credit union industry’s first bilingual neo-bank strategy and financial inclusion platform. Approximately fifty million residents in the United States are not participating in mainstream banking services because of barriers to opening, distrust of the banking system, and lack of access.
People without a checking account are subject to predatory fees when they use alternative financial services like check cashers, payday lenders, and prepaid cards with recurring fees. We aim to be a conduit to provide fair and equitable financial services to unbanked residents in the United States and bring them into the credit union ecosystem.
Being part of our co-op also gives account holders access to a free checking account, over 30,000 free ATMs, zero balance requirements, zero fees, and no credit check. We are delighted to partner with Affinity Plus, Digital Federal Credit Union, Inclusiv, Service Credit Union, and US Alliance to make an impact together.
How does Dora Financial work to embed inclusivity into banking solutions?
To embed accessibility and inclusivity into the products and services of banking solutions, the first step is eliminating the barriers to opening an account. Anyone can sign up for Dora — we want everyone in the United States to be able to have a checking account so they can start their financial journeys. Regardless of immigration and documentation status, folks can create an account with any proper ID and an Individual Taxpayer Identification Number (ITIN).
In developing an app, we put inclusivity first, as well as delivery in seamless end-to-end Spanish integration to serve the Spanish-speaking population in the United States. While we are opening an account in Spanish and English currently, our focus is to provide a free transactional account to all residents in the United States.
To learn more about the platform, connect with our team!