Already Enjoying the Benefits of IBank Membership?

Login To MyIBank

Not A Member?

Sign Up Today!

About IBank

About IBank

"Once upon a time there were banks that served the poor. Government structured banks for that purpose — government gave banks cheap money and protection against failure partly in exchange for their providing a place to deposit money, earn interest and get credit, along with economic stability, for everyone. Financial innovation, increased competition and deregulation changed all that: the period of dramatic transformation left the poor and working class without services, as banks came under competitive pressure."

Mehrsa Baradaran - How the other half banks: Exclusion, Exploitation, and the Threat to Democracy


Currently, there are over 2 billion working people globally who have limited or no access to basic banking services forcing them to rely on more expensive, in some cases even risky, alternative financial services. Unbanked consumers live in a dangerous financial world. A lack of access to basic banking services leaves them open to risks of theft, fraud and loss. And by using Alternative Financial Service Providers, they also fall prey to expensive predatory products that make it even harder for them to achieve financial security. Financial inclusion has become a business problem in addition to a social problem, as
regulators and consumer advocates increase pressure on financial institutions to change the way they serve lower income consumers. There is certainly no shortage of startups attempting to disrupt the global banking system. But they are only nibbling at the most profitable pieces like payments and overseas transfers and ignoring the root problem. There is not one fintech startup that we are aware of that has tackled the challenge of basic transactional banking. Our job was clear: Design an easy to deploy, simple to use method of providing basic, affordable, transactional banking services to billions of consumers regardless of their financial status, physical location or access to technology.

The IBank Solution

We propose a new solution that was developed through extensive empirical research and a deep understanding of financial product economics harvested from our decades of industry experience. Our new approach to banking considers the needs, the capabilities and limitations of all stakeholders and provides a massive social benefit that will better meet the needs of the financially disenfranchised and provide significant benefits to the economy at-large. We accomplished this by rethinking the dynamics of banking. By reducing friction, eliminating most costs and redirecting others, IBank can eliminate from
commerce the billions of dollars in needless middle-man fees and return those savings into the pockets of the producers and the consumers. We designed the IBank Network in a way that would make it simple to use and accessible to nearly anyone, nearly anywhere in the world – and not just those consumers with an existing bank account or smart phones, or the ability to access the Internet. The patent-pending IBank Network can best be described as a “Financial Ecosystem” where Merchants act as a “branch” of IBank where consumers can Deposit or Withdraw Funds from their IBank Account, Pay Bills, Transfer Funds to Savings and Send or Receive Funds Transfers from other members – even if they are overseas and hold funds in another currency.

IBank Features & Benefits