How they describe themselves: Akimbo Financial provides turnkey, white-label, prepaid card programs and develops custom web and mobile solutions for banks, credit unions and other business. Prepaid cards are the fastest growing payment method in the US and have a wide range of applications including corporate expense cards, payroll cards, and an alternative to checking accounts and debit cards. Akimbo is an Independent Sales Organization (“ISO”) pursuant to an agreement with The Bancorp Bank, Member FDIC, and operates the Akimbo Visa Prepaid Card.
How they describe their product/innovation: Akimbo is reinventing the allowance with a card that delivers money anytime, anywhere. Akimbo offers free and instant money sharing, and each Akimbo member can create up to 5 sub-cards for kids, students, friends, staff or anyone. Cardholders can link bank accounts and set up automatic allowances to sub-cards or any other Akimbo member. The Akimbo Card provides immediate access to sent funds everywhere Visa debit is accepted and at ATMs. Cardholders can access and manage their account and sub-cards from any mobile, tablet, or desktop device using our HTML5, adaptive-display web app, or native iPhone app.
Product Distribution Strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, & through other fintech companies and platforms