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千禧一代黑人群体:金融科技企业的服务盲区?

全新的互联网金融模式国际资讯基于互联网平台的金融业务

千禧一代黑人群体:金融科技企业的服务盲区?

2016年,洛杉矶湖人队退役黑人球员科比·布莱恩特创办了风投基金Bryant Stibel。同期, Mensa Pounds发现了一家刚刚起步的金融科技公司 BREAUX Capital,该公司旨在为千禧一代黑人提供金融相关服务。

Pounds听完高中同学对BREAUX Capital发展前景的介绍,便心有所动。2016年,也就是BREAUX创立的那一年,他成了公司的一名股东。如今Pounds是新奥尔良市的一名小学老师,他常常使用BREAUX Capital的存款服务,也会参加公司举办的线上线下活动,和其他人一起交流创业梦。

虽然现在说起来还为时尚早,不过BREAUX的创始人对千禧一代黑人这一少有企业问津的市场及其盈利空间相当看好。

BREAUX联合创始人及首席运营官Ras Asan表示:"奇怪的是,大家普遍认为千禧一代黑人都没什么钱,或者即使他们有钱,也不会用于金融服务。"

不过 Asan和莫尔豪斯学院校友 Derrius Quarles、 Brian Williams也另有发现:过去一直被忽视、无法享受金融服务的黑人群体蕴藏着巨大商机。

BREAUX的客户群是千禧一代黑人,但发展目标与许多金融机构、初创企业也有所重叠:为了帮助年轻一代投资者提高理财素养,积累财富。

如今,许多数字化工具都宣称能让年轻人实现财务自由,但现实是,很多年轻人债务缠身,收入不稳定,却又有许多额外开支。千禧一代黑人的问题更为突出。芝加哥大学黑人青年研究小组GenForward发布报告称,许多千禧一代黑人都背负着某种形式的巨额债务,而面对同样问题的白人和亚洲人却没有这么多。

千禧一代大多不信任银行,接触过金融服务的美国黑人对银行就更无好感了。

波士顿OneUnited Bank的行长兼首席运营官Teri Williams评价道:"黑人对银行极其不信任。"

按揭贷款政策中存在的歧视只是这种不信任的历史原因。Williams说:"你会发现,银行业的一系列政策规定对黑人群体一直都不友好。"

过去数十年里,也有一些人在尝试消除这种长期存在的种族间的财务鸿沟,包括创立黑人银行OneUnited。但也就是在最近几年,才有一些初创企业--如BREAUX Capital、 HBCU Wall Street 和 eMoneyPool --开始通过科技手段为黑人提供新型的金融服务。

Williams表示,金融科技公司应当格外关注黑人的需求。五月底,OneUnited与 EverFi 合作,在它的官网上设立了金融服务中心,所有人都能用手机操作,享受预算编制、信用评分等各种服务。

Killer Mike、Beyoncé等公众人物都在希望推行有针对性的金融服务。Williams认为,在一定程度上,科技公司的这些努力能让黑人更好地享受储蓄、消费、投资等服务,这是一种进步。

她补充道:"但这还不够。"

虽然现在规模还不太大,但 BREAUX的目标是为千禧一代黑人更好地服务,成为行业领头羊。

BREAUX目前为缴费会员提供了自动储蓄、交流社区等服务以及金融知识学习材料,若有需要,还可为会员提供相互投资的渠道,接受投资的很多都是创业者。

这些服务是其他金融产品的重要组成部分。Asan也认为,企业必须有一些能够吸引千禧一代黑人的特色,比如语言习惯、美观性以及能够通过手机进行沟通、有线上下活动的社区。

Asan说:"黑人最爱的两个词就是社区和对话。"

这是HBCU Wall Street的创始人通过观察传统黑人大学学生率先发现的。这家金融科技公司三年前建立了Instagram账号,现在有42,000名粉丝。它和BREAUX Capital一样,都有个人理财方面的活动和软件。不过它们的目标群体是传统黑人大学的学生,因为公司创始人就是从那里毕业的。

和Torrence Reed共同创立了 HBCU Wall Street 的Jamerus Payton表示:"我们希望能在自己熟悉的地方扎根成长。"

这意味着必须承认有一些人羞于面对自己的财务状况,或是没能力谈论金钱。 Payton也表示:"我们能理解他们的窘迫。"

BREAUX目前在开发手机app,并努力提高付费会员数量。会员费每年9-19美元,而一次性的入股费略高,达349-500美元。

市面上也有一些便宜的个人理财app,但 BREAUX认为,只有自己采更能倾听和满足千禧一代黑人金融方面的需求。

服务群体的普及性不够仍是银行和金融科技行业需要面对的问题。硅谷和华尔街已经在努力适应黑人文化,风投基金也在尽力支持多样性,支持女性创办的企业。五月,Backstage Capital的创始人和执行合伙人Arlan Hamilton宣布成立一项3600万美元的基金,专门投资黑人女性创业者,她在Twitter上称之为"这该死的时间基金"。

Revolution的基金 Rise of the Rest投资了美国很多非沿海城市的初创企业。在金融科技领域,摩根大通旗下的Financial Solutions Lab一年多来也在积极观望,希望进行早期融资的金融科技公司能有多样性发展。

Financial Solutions Lab高级经理Maria Lajewski说:"既要多样,又要多变,这是很难实现的。"

Lajewski有一个独一无二的优势。基于工作原因,她经常会与金融医疗领域的初创企业进行交流,这些企业将来很有可能拥有数以百万计的客户。她自己也会去观察,去了解金融科技公司为什么需要多样性--不仅仅是为了提高竞争力,更是为了开发出各个种族消费者都可使用的产品。

作为BREAUX Capital的股东,Pounds希望能为金融服务的发展作出贡献,他认为自己在公司里是有价值的。能够提供自动储蓄服务的不止BREAUX一家,但只有BREAUX才能让Pounds看到美国年轻黑人的共同目标:金融自由。

Pounds表示:"我们所有人都希望这个目标能够实现。"

Around the time the retired Los Angeles Lakers superstar Kobe Bryant launched a venture capital tech fund, Mensa Pounds heard about BREAUX Capital — a fintech company that was just getting started on its big goal to disrupt financial services for black millennials.

Pounds knew he wanted in after a former high school classmate told him about the brand’s vision. He became a shareholding member in 2016, the same year BREAUX Capital formed. Pounds, now an elementary-school teacher in New Orleans, is one of 1,000 members who use BREAUX Capital to automate savings deposits and to network with one another on their entrepreneurial dreams and capital needs — online and in person.

It’s still early days, but the startup, with founders in Chicago and Brooklyn, sees an opportunity to make a mark and a profit on a market few fintech startups have specifically pursued.

“It seems counterintuitive,” said Ras Asan, co-founder and chief operations officer of BREAUX Capital. “The perception is they don’t have money [and] if they do have money, they aren’t trying to spend it on their financial wellness.”

But Asan — along with fellow Morehouse College in Atlanta alums Derrius Quarles and Brian Williams — saw something else: a business opportunity for a community that has been historically underserved and underrepresented in financial services.

While BREAUX Capital is focused on black millennials, its larger aim overlaps with objectives many startups and financial institutions have: engaging younger investors in the dry topics of financial literacy and building wealth over time.

Nowadays, dozens of digital tools are billed as democratizing finance for young adults. But many young customers wrestle with large debt burdens, unexpected expenses and volatile income. For black millennials, the challenges are even more pronounced. According to a GenForward University of Chicago report, many black millennials, more so than whites or Asian millennials, appear to be living one accident away from a financial disaster.

Millennials as a demographic overall are wary of banks. But the experience of African-Americans with financial services and banking has made many even more skeptical.

“There is tremendous distrust of banks amongst the black community,” said Teri Williams, president and chief operating officer at OneUnited Bank in Boston.

Discrimination in mortgage lending policies is just the start of the historical reasons for this distrust. “You can go on and on in ways in which banking in general has not been a friend of the black community,” Williams said.

Over the decades, there have been attempts at solving the enduring racial wealth gap, including the launch of black-owned banks like OneUnited. But only in more recent years have several startups attempted to use technology to develop new approaches to counter the financial experience the black community encounters — BREAUX Capital, HBCU Wall Street and eMoneyPool among them.

Williams said it’s important for fintech companies to focus on the black community specifically. OneUnited launched a financial literacy center on its website with its partner EverFi in late May. There, anybody can get a mobile-friendly “playlist” on everything from budgeting to credit scores.

To Williams, such tech efforts represent part of a growing movement in the black community to look for ways to spend, save and invest with black-owned organizations at a time when celebrities, such as the rapper Killer Mike and Beyoncé, have promoted what Williams calls purposeful money management.

“More is needed,” she said.

As a nimble startup, BREAUX Capital hopes to become a big part of the solution for black millennials.

Today, the firm offers paying members an automated savings feature, a network, financial educational materials and, if desired, an opportunity to invest in fellow members, many of whom are entrepreneurs.

While such features can be staples of broader products, Asan says it was important to design something that would appeal to black millennials in particular via the language used, the product’s aesthetic and the curated community that networks on the phone, online and in person at events, including one dubbed BREAUXcoming.

“Two words millennials love are community and conversation,” Asan said.

It’s something the founders of HBCU Wall Street have also observed firsthand in targeting students at historically black schools. What started as an Instagram page three years ago has evolved into a fintech company that now counts more than 42,000 followers. Like BREAUX Capital, HBCU Wall Street offers live events and software on personal finance themes. It’s focusing on HBCU students because that is where the startup’s founders graduated from.

“We wanted to make sure we homed in on the world we knew and understood,” said Jamerus Payton, who co-founded HBCU Wall Street with Torrence Reed.

That includes recognizing that some people are coming from a place where they feel ashamed about their financial picture or assume they don’t have enough money to talk about money. “We understand their plight,” Payton said.

BREAUX Capital is working on developing its mobile app and growing its paying membership. The subscription costs $9 to $19 annually, while a one-time onboarding fee is steeper: $349 to $500, a number that depends on whether a member becomes a shareholder.

There are cheaper personal finance apps available, but BREAUX says its brand speaks to black millennials and hears their needs.

Representation remains an issue for banking and the fintech industry; efforts have grown to address "bro culture" in Silicon Valley and Wall Street, and new venture funds have been launched to support diversity and women-owned startups. In May, Arlan Hamilton, founder and managing partner of Backstage Capital, announced she was starting a $36 million fund — or as she tweeted, an “it’s about damn time” fund — that will be used to invest in startups led by black women.

Revolution’s Rise of the Rest has been traveling around the U.S. to invest in startups outside of the ones residing in coastal cities. In fintech specifically, the Financial Solutions Lab, which is managed by Center for Financial Services Innovation with founding partner JPMorgan Chase, has been actively scouting for more diversity in early-stage fintech solutions and on their teams for more than a year.

“It’s a hard problem that requires a diverse and varied toolbox,” said Maria Lajewski, a senior manager at the Financial Solutions Lab at CFSI.

Lajewski has a unique vantage point. As part of her job, she regularly interacts with financial health-related startups that have potential to scale to millions of consumers. She has seen for herself how fintech teams need more diversity — not just to fight inequality, but so the founding teams can think outside of their worlds to build products that are more widely useful to a racially diverse customer base.

As a shareholder in BREAUX Capital, Pounds said he wanted to contribute to opening up financial services and has already found value in his membership. There are other services that could have helped Pounds automatically save up money. But they likely wouldn’t have opened his eyes to a young black community across America coming together on a big goal: financial freedom.

"We all want to see this become successful," said Pounds.

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