The Truth Behind Empowering The 44 Million Immigrants In The US | Dr David Wachira, CoFounder Waya

Being an immigrant in the US comes with financial challenges, starting with struggles to open a bank account. This is a 44 Million problem with 13% of the US population classified as immigrants and contributing to 22% of the US GDP - that’s USD 3.9 trillion per year.

In today’s episode, Dr David Wachira, CEO & Co-Founder at Waya, talks to us about this customer problem statement and how Waya is being part of the solution.

We explore how to create purpose-driven FinTechs to create more impact and the biggest challenges immigrants have accessing financial services in the US. Waya’s customer segments range from students, workers, minorities, and professionals, solving for financial inclusion, requirements for illegal immigrants to open a bank account, and how marketing efforts to reach out to immigrants are different from your traditional FinTech.

If you enjoy this Purpose Driven FinTech episode it would mean the world if you subscribe and give it a follow so that we can have more impact. Remember to connect on LinkedIn to keep the conversation going.

Let’s dive into it!

👉 You can find Dr David here

LinkedIn:   / david-wachira  
LinkedIn Waya:   / wayapay  
Website: https://getwaya.com/


👉 And you can find Monica here:

LinkedIn:   / monicamillares  
YouTube:    / @moni_millares  
TikTok:   / moni_millares  
Website: https://moni-millares.mystrikingly.com/


We cover:

(00:00) Pod teaser

(01:05) The Role of Fintechs in Society

(05:43) The Challenges of Immigrants in the U.S.

(07:11) The Importance of Financial Access

(08:19) The Journey of Immigrants in the U.S.

(09:00) The Role of Waya in assisting immigrants

(14:42) The Size and Impact of the Immigrant Population in the U.S.

(18:17) The Challenges Immigrants Face in Accessing Financial Services

(20:41) The Possibility for Illegal Immigrants to Open Bank Accounts

(24:18) The Importance of Financial Education and Literacy

(27:19) Overcoming Fear as an Immigrant

(28:23) The Reality of Deportation and Living in Fear

(30:10) Understanding the Struggles of Immigrants

(31:00) Defining Financial Inclusion

(32:09) The Impact of Financial Exclusion

(36:56) The Role of Fintech in Financial Inclusion

(43:27) The Power of Word of Mouth in Community Outreach

(44:30) The Importance of Trust in Building a Fintech Brand

(49:07) The Potential Change in the Fintech Industry

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Production and marketing by Monica Millares. For inquiries about coaching, collabs, sponsoring the podcast, or creating or editing your podcast email [email protected]

Disclaimer: This episode does not constitute professional or financial advice and does not represent the opinion or views of my current, past, or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion on social media.

#empowering #immigrants #podcast2024