Finovate Demo Video Archives

Presenter Profile:

How they describe themselves: Point of Wealth Systems, Inc. (POWR) provides affordable and convenient financial services to the millions of people who are compensated in cash or don’t have bank accounts. Cash can be applied towards a wide range of options including:

• An IRA account
• A checking or savings account
• Bill Pay
• An Educational Savings Account
• Prepaid cards and other card top offs
• Gift cards
• A Charitable donation
• Sending money to Mexico
• Contribution to a POWR Save Account to save money towards the purchase of large items such as vacations or big screen TV’s
• Payday loan disbursement
• Deals of the day of $50 or less from affiliate vendors

What they think makes them better: We accept cash, we do not dispense it. Our small footprint, inexpensive kiosk allows placement almost anywhere. The amount of currency in circulation has grown by 13.3% in the last two years to over $900 billion dollars even with the increasing automation of the financial services industry. Combine this with the fact that over 25% of all American households or 60 million adults are unbanked or under-banked and it becomes clear that the cash-based economy in the U.S. is enormous and growing. Our machines digitize cash allowing this demographic the cost savings and convenience the digital realm affords the rest of us.

Executives: Doug Lindstrom (CEO), David Prehn (President), Mark Dybvig (CFO)

Contacts:

Bus. Dev., Sales & Press: Dave Prehn, President, 503-293-8349, dave@thepowr.com