Punk is not Dead: Embracing a New Paradigm of Money Management

Join the backlash against the fat cats

Financial technology is a driving force that’s gathering momentum at lightning speed as we navigate these uncertain times. Whilst there are many things up in the air right now, the part that fintech will play in our emergence into a ‘new normal’ (we know, we know) has been firmly cemented.

FinTech definition: technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance.

Since the start fintech has been an unapologetic obstruction for the traditional banking industry that has ruled the roost for FAR too long. Why is it that the banks have been the bully boys of the playground without opposition all this time? Why is it that they have monopolised and montised the misfortunes of decent, honest and hard-working people? How did they get to write the rulebook which dictates how the 99% get to live their daily lives?

These are the questions that fuel the desire of fintech to create options, opportunities and different ways of working with money. For a heart centered human money is not the be-all and end-all, we know that money doesn’t buy happiness but it does allow us to experience freedom and when we’re not skint life just seems lighter and that much brighter. Anyone who’s watched an episode of ‘Rich House Poor House’ can see that life without money creates an enormous amount of stress and pressure. When we feel like this chasing our dreams and living a life by our own design just seems so far out of reach. Money dictates the level of happiness we experience in both our inner and outer worlds and there’s no getting away from this. FinTech offers the forgotten ‘have nots’ with a powerful shot at re-writing the story when it comes to money and the chance of a more prosperous future.

Fintech has opened the floodgates of fruitful financial possibilities for ALL and there’s no doubt about it the banks are bricking it.

Perhaps one of the most inspiring aspects driving the fintech revolution is the fact that many company founders are motivated by creating positive and lasting change in the world. Often their own negative personal experiences have been a driving force behind developing a platform or service that actually helps rather than hinders. This was certainly the case for the co-founder of the massively successful money-wiring platform, TransferWise.

“I built this company because banks were screwing me without telling me,” says Taavet Hinrikus in a recent interview, who launched London-based TransferWise with Kristo Kaarmann after they were getting charged rip-off rates to wire money to friends and family in their native Estonia.

“As consumers in general, and with Millennials in particular, we’re getting used to everything being cheaper, faster, better, and banks aren’t keeping up,” he says, whipping out his smartphone. “This right here, this is the only branch that matters.”

“It’s not like we loved banks before, but the crisis showed us that they’re not looking out for us,” he says. “They’re greedy bastards out for themselves. That’s eroded a lot of trust people have in banks.”

Same goes for our CEO and Punk Money founder Ewan who knew there had to be a better way.

“Knowing how difficult it is to access affordable credit, I identified a way by using open banking to replace credit scores. By offering community lending we could replace banks. People were paying an obscene amount of cash for short-term loans and Punk Money could replace this with interpersonal loans.”

You might be wondering how we’re making this vision a reality and how we’re going about turning the banking system on its head. Stick with us, here’s the D.L.

How does it work?

Our revolutionary app enables customers to lend to others.

Lenders can invest as little as £100 and up to £20,000 over a fixed term period, the terms of which are set by the borrower. The money is insured by the community, so in the event that the borrower defaults on your loan, we’ve got your back, and your money is protected.

Lenders receive a fixed return on their investment with straightforward calculations of up to 10%.

Borrowers can apply for a loan and get an instant decision. Just fill in your details, the amount you’d like to borrow and the length of time you’d like to pay it back. You can borrow as little as £100 up to £1000. Our unique banking app allows you to establish a realistic budget before you borrow, so the amount you pay back is affordable.

Punk Money’s flexible repayment scheme works in alignment with your finances, and can be altered depending on your monthly incomings and outgoings. If unexpected problems should arise, you’ll have the option to spread your costs over a longer period of time without facing extortionate charges. Our revolutionary app helps customers balance their budgets, so you can see exactly where each penny of your income is going, helping you to get back on track, and ultimately improve your credit rating.

We’re also excited to share a new feature of our platform which allows you to lend to family and friends without a single dose of drama and piece of mind that our innovative technology will put the boundaries in where it often feels tricky to.

Paypal was about sending money. Punk money is a new way to lend — to friends, family and your community. We all understand the problems of lending to family and friends, at best it’s awkward, at worse you could lose someone close to you. There is a new way — in a post-Covid world credit ratings will be in flux, we will all need to support each other in many ways, Punk can make the financial side work for you, earning you market beating returns (10%) and allowing you to lend your money hassle free, securely and interest free to your friends and family. You choose : Lend money to your family ‘for free’, or to your buddies on ‘mates rates’, and once you’re happy with the Punk way, you can lend to your community for up to 10% return,safely and securely. Don’t worry we use the latest technology to ensure that only the right people are in the Punk community to begin with so you don’t have to worry about someone you don’t know, and if something does happen and a payment is missed.

Punk will pay you out of the collective insurance pot covering your monthly payments. We will use Smart Contracts to make lending hassle free, turning a formal process into 3 clicks, and put our Anonymised Punk Score into a Distributed Ledger to become the DeFacto rating, after all what better way to show the type of person you are then by how you payback your friends and family. $1.5trillion is in UK bank accounts earning 0.33%, if we all moved to the Punk way the entire UK National Debt would be wiped out before 2030. Punk Money — hassle free lending, safe and secure — giving you back more than just great returns.

Being excellent to each other is the standard we’re constantly striving for but we get it, there’s been letdowns and disappointments along the way which sometimes block us from believing in better. We want you to know that you’re in safe hands, that we’re all in it together and that when good, honest people come together with a shared intention there’s nothing we can’t achieve. Here’s to setting a new standard. Here’s to building what we believe in. Welcome to the Punk Money community, we’re buzzing to have you here.

Remember, we’re building a community around YOU. We want to hear how we can create a community platform that serves you and your loved ones no end. DM us on FB or IG with your ideas!

Until next time we’ll leave you with this quote from Anthony J Dangelo,

“Without a sense of caring there can be no sense of community” — Here’s to caring more, sharing more and being the change we wish to see in the world.

Until next time Power to the People — the Punk rebellion is here!