Featured News

How Fintech Can Help the Working Class

Conventional financial services can be costly, a fact that’s especially true for more than 60 million hard working Americans who may pay a disproportionate amount to use systems which could exploit them. The combined cost of check cashing, payday advances, and unfavorable loan terms can add up quickly and impact their ability to improve their financial situation over time.

Growth expectations in credit card and electronic money transfer volume is at an all-time high, but for those in the cash economy, or otherwise underbanked, the cost of daily life can be high.  If you consider the travel to secure or use financial products, paying bills via prepaid debit cards, money orders, and postage the cost can add up quickly.

Next-generation customers, however, have alternatives at their disposal. Fintech solutions bridge a gap between underserved and conventional customers through increased payment possibilities such as Cash App, Payactiv, and electronic transfers (ACH). Emerging payment plan options like Affirm allow customers to buy now and pay later which can save them money especially if they’re buying during a promotion or sale. At year-end, the emerging fintech customer is more adequately served.

While fintech can’t cure financial disparities between earning brackets, it is becoming a viable solution for underserved customers. Glenbrook is excited to see further innovations on the horizon and hopes that working-class customers and economic inclusion continue to be considered.

Read more about ‘The True Cost of Being Underbanked” from Glenbrook.

 

 

Featured News

Politics in the Breakroom Not a Problem? We Have a Different View.

Last week we asked you on LinkedIn “How does your organization deal with political talk in the workplace?”  and were surprised at the outcomes.

  • 41% said political talk is not an issue in your workplace
  • 35% said your companies set strict rules
  • 25% said they leave the issue up to individual employees

While the answer may be different for every company, we believe it’s a prominent concern in many companies and can be a tough issue to manage, requiring wisdom and discernment by leadership.  Publishing reasonable guidelines can help eliminate ambiguity and offer guardrails which still action a commitment to diversity, inclusion and other vital cultural values.

The recent post by Know Your Team  “How political should I let my team be?”, laid out three really solid guidelines:

  1. Root the discussion in the aspirations and the vision of the team
  2. Acknowledge and anticipate differing opinion
  3. Be respectful and stick to the ideas without attacking the person.

In our view, leaders should also encourage employees to ask themselves a few questions before engaging in a political workplace dialogue:

  1. Is my position or statement thoughtful? Have I dug into this topic enough to really understand the core issue(s)?
  2. Have I validated these ‘facts’ for myself or am I repeating a sound bite or attention getting headline simply because I read it online or heard it from someone I otherwise believe is informed.
  3. If I never see eye to eye with this person, or my team on the political issues can I still respect and rely on their professional capacities enough to support the mission of the company and achieve our common goals?

We believe it’s important to keep the company name, brand, client value proposition, and voice separate from personal opinions. That includes company email, lunchroom bulletin boards, company events, and even your LinkedIn profile while you’re employed. If your LinkedIn persona is “VP for Acme Co” keep your messages and posts apolitical. Save those for social media channels where your profile is fully personal.

And, perhaps most importantly, leadership must work hard to be consistent; don’t say one thing and do another. We see CEOs with scripture verses in their email signature who voice support for inclusion and diversity then openly encourage their employees to contribute to a political candidate who is known to be against these core values. Consistency counts. You can’t deny the use of the lunchroom announcement board for advertising a political, religious or lifestyle event, then insist that Fox News be the only channel on the lunchroom TV. We welcome your views.

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