WikiLoan, Inc. – the bold pioneer in a growing world of peer-to-peer lending whose social media-based lending portal, WikiLoan.com, is fast becoming a familiar hangout to family and friends seeking a low-cost yet structured means to lend money amongst each other – announced recently a major new strategic push to serve the unbanked and underbanked.
With over 28 million potential customers in the US alone, this is a gold-mine market segment which has proven historically difficult to court. In spite of that, WikiLoan – with its innovative financial services model – is seeing penetration into this group.
The “Wiki” branded cards could be on shelves at over 20k locations by April 1, and with up to 5 million estimated cards distributed everywhere throughout the US, the “Wiki” brand should receive a great deal of attention while the Company stands to generate additional capital.
This strategy has the beneficial secondary advantage of channeling traffic to the WikiLoan.com site, where generally underserved banking customers can find lending services in a comfortable, easy to use and fun environment where the user has all the tools at his or her disposal, making otherwise wary consumers feel right at home and in-charge.
Founder and President of WKLI, Edward DeFeudis, speaking of the unique aspects of the new deal offered as part of a bold new strategy to acquire this much sought-after customer segment, noted the “shotgun” distribution pattern employed and the specific emphasis on immigrant communities and shops run by local merchants, who often serve as a confidant to customers.
DeFeudis noted that, within such neighborhoods, these store owners often act as a stand-in for financial services providers, “directly educating customers about various products and services”, and DeFeudis acknowledged the Company’s expressed intent to capitalize on these existing relationships.
By addressing the highly specialized needs of individual customers via the card solution, which can be applied in a multiplicity of ways, the Company seeks to bridge the cultural gap. Additionally, by leaning into the distribution methodology, the Company is sure to seed the “Wiki” brand throughout a thriving marketplace.
Founder and CEO of WKLI, Marco Garibaldi, called the new product perfectly positioned to fill the needs of this community by giving consumers a “resource for short-term loans with extremely low fees, fast identity verification methods, and the creation of payment histories, which may help build credit”, and emphasized that the Company would continue to focus its efforts on providing technical solutions for people which will eventually influence them to select higher value products.
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