Rebank

Helping the underbanked make prosperous choices.

What is Rebank?

Rebank compares banking options suitable for low-income New Yorkers, making it easier for this population to improve their financial situation. With a space for users to share financial questions and concerns, Rebank paves the way for future iterations to broadly support the needs of low-income earners.

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Why it matters:

While many low-income New Yorkers would like to manage their money in banks, products advertised by financial institutions have restrictive minimums. Accounts for low-income earners exist, but the details about these less profitable, government-mandated services are confusing and hard to find.

Who it helps:

  • The day laborer who shells out fees every time he cashes a paycheck or sends money home.
  • The first-generation student whose family has never banked, but wants to start saving for college.
  • The father of five who keeps his money in cash, but could save a fortune buying in bulk online.

The potential impact:

A whopping 1 in 4 American households are “underbanked”. On average, underbanked Americans will spend $40,000 on alternative financial service fees in their lifetime. That’s a huge amount, especially for those living on less than $25,000/year.

The team behind Rebank:

Stephanie Raill Jayanandhan

Fellow

Stephanie helps individuals and organizations connect high quality research with best practices in the field. In the past, Stephanie has developed a partnership to connect financial education and home internet access, and led research for Spent, a documentary on the underbanked that's been viewed over 9.5 million times on Youtube.

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Stephanie Raill Jayanandhan

Stephanie Raill Jayanandhan

Fellow

Avi Karnani

Fellow

Avi works to help people make better financial decisions. He built and sold Thrive, a startup that helped people save more and spend less; launched GetRaised, a service that helps address the gender-wage gap; and designed an asset building program for a US state.

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Avi Karnani

Avi Karnani

Fellow

LaTiesha Caston

Designer

LaTiesha is a graphic designer with a passion for UI design and a desire to help people from the same environment she grew up in. When she's not designing, she's obsessing over her new hobby: juicing. LaTiesha lives in Brooklyn with her boyfriend and her cat Duck Sauce.

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LaTiesha Caston

LaTiesha Caston

Designer

Paul Barnes-Hoggett

Developer

Paul is passionate about using technology for social good. Prior to Significance Labs he was a Principal Software Architect at Adobe Systems, worked with multiple banks to envision and prototype new innovations, and built a business selling locally sourced farmers market produce.

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Paul Barnes-Hoggett

Paul Barnes-Hoggett

Developer