CONYERS, Ga., April 28, 2022 /PRNewswire/ — Fintech CEO, Reco McCambry was named recipient of Money 2.0’s annual Outstanding Leadership Award at the organization’s spring conference this April in Las Vegas, NV.
McCambry, a two-time author, Forbes Business Council Member, and financial educator has made headlines several times in recent months by launching charitable community events and new financial products designed to serve historically underserved communities.
His new online banking option, designed to be highly accessible to people living in low-income areas, debuted in November 2021. His Buy Now, Pay Later consumer financing platform was recognized by Black Enterprise as the first Black-owned consumer financing option in the industry last August. McCambry also dispenses regular doses of credit and financing wisdom in his Forbes Business Council articles published on Forbes.com.
In his keynote speech to Money 2.0, McCambry discussed how reaching new consumer markets can be both a profitable proposition and a form of social justice. Much of his pioneering Fintech work has centered around finding ways to bring previously inaccessible products to wider audiences who have historically been denied access to banking and financing opportunities. In the process, he has helped to build a customer base where none existed before.
According to the FDIC, “25% of U.S. households had no bank accounts, or lacked easy access to banks.” McCambry proclaims, “These households often don’t see low-interest credit lines, business or consumer loans, or home ownership as within their reach. That’s a tragedy and a civil rights catastrophe. It’s also an opportunity for businesses who choose to reach out and make these services more accessible.”
McCambry firmly believes that people create wealth when given the resources and education necessary to do so. His first business offerings focused on financial education, assisting underserved customers with credit building, then handling loans and credit lines to build wealth in their communities. As his customer base grew, he set his sights on more ambitious infrastructure. To McCambry, his FDIC-insured banking option and Buy Now, Pay Later options represent the obvious next step in serving the underserved.
“It’s hard to get ahead if you don’t have access to money,” McCambry says. Through his company, Novae, he is making capital accessible to small businesses and entrepreneurs alike with business funding options available in all 50 states!
As the world gears up for a post-pandemic economy, creating new customer bases by expanding accessibility is likely to be a continuing trend. The growing acceptance of remote-only and delivered-to-your-door services has already begun to form new connections between businesses and customers who were previously isolated by geographic or demographic barriers. Programs like McCambry’s hint at a new reality across industries: an economy where online-only services are increasingly common, leveling the playing field for customers and businesses around the world.
McCambry’s eye for reaching customers who were previously shut out of lucrative markets doubtlessly contributed to Money 2.0’s choice of recipient for this year’s Outstanding Leadership Award. With McCambry’s company rolling out new major fintech offerings every few months since early 2021, we can be sure this will not be the last time we hear McCambry’s name.