Republic Bank, a friendly bank for everyone.

A bank that gives support and financial education to their customers.

Nowadays in all around the world, specially in Peru, people see banks as a robber that only want to stole their money with abusive interest rates and that is the only way the can make profit. This is caused by the very few financial information that people have nowadays because it isn't something that we could learn somewhere in an easy way. That is a problem because then we have lots of people over-doubted and getting into a cycle that never ends where the only live to pay to the bank and that is a true problem.

The solution is a new bank where people can have financial information and education, all of these from the app that the bank would have. Also the app will have the expenses and incomes information and it will send you a warning in case that you are spending more than you should. Apart from that we will have products for unexperienced customers with less risks so they can learn properly how to use financial tools. In our business section we will have business tips, special business advisors for our business clients and a zone for those business who are looking for a partner or investors.

Our target population is all the people that do not have access to financial education. The objective is give them all the knowledge at the same time that they use the banking services so they no the theory information and how to apply it in practical situations and that way they can have a financial well being and they could grow making investments and new businesses. All our customers could access to this downloading the app of the bank and if they have any cuestiona we can help them using an online chat, by telephone or if they wish, they can go to our locations.

I live in Lima, Peru. I am a very organised person and I like both economics and medical topics. This year I am in 11th grade and this is my last year of school, in my school I am part of prefects team where we help to make all school activities, specifically I am in charge of volunteering activities and  logistics of big events like the cenit model. I took part of two Cenit models, which is an event where we discuss many topics about leadership and service and how students can be an active part of modern society. In July 2022 I took part in the International Institutes program of Eduexplora at University of California Berkeley, there I took university level courses of business, neuroscience, technology, design thinking, and many more at the same time that I lived with people from many countries.

A BBVA study showed up that 78% of Peru population don't have a proper financial knowledge so that is a first view that we need something like this. Then I tried it with my friends in a game way where we created a new currency for it and the concept worked really well, even people of 11 or 12 years were able yo understand it and have a good control of their finances.

I expect to change the market giving a service that people can learn from and not only be the bank that want you to pay all the time but they don't help you with any trouble you have.

My goals for the next year are having at least 100 customers and have the app in plenty operation.

The app is the main technology that we use, then we use the classic financial technology like card chips, system security and contact less pay. We could offer the use of blockchain and cryptocurrencies as an alternative to our clients.

I expect to serve 100 people at the beginning and start growing step by step.

The main barrier is that I will need advisory to create the bank as a legal company, and in Peru you have to follow many laws and have minimum net Worth for the bank of at least 10 million of US dollars.

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My business model is teach people from all around the world how to use their money, first learn them how to sabe money and have a good control of their finances, second how to start investing money so you have extra incomes and third and finally how to start a business using the different financial tools to grow it. All of this at the same time that I offer them the financial tools they need with fair interest rates.

I want to raise investment capital to start the project and then sustain it with the incomes from the banking business, because apart from all that we are doing it will be a real bank so it will be a profitable business that could be sustained by their own incomes.