Financial Services International, Inc. Selects LaVERDAD Marketing and Media to Launch Financial Survival Card Targeting the Untapped U.S. Hispanic Market
Financial Services International, Inc. (FSI) today announced the selection of LaVERDAD Marketing & Media as its marketing agency, and partner, in the launch of an innovative financial services program specifically designed to assist Hispanics in managing their financial needs.
FSI offers consumers the Essential Card, a prepaid debit MasterCard, that can be used anywhere debit MasterCard’s are accepted and at over 900,000 ATMs within the US and around the world. And now, with this newly announced partnership, FSI and LaVERDAD will develop and offer a first of its kind financial services package, specifically designed to help Latino consumers who are un-banked, under-banked, and lacking basic, fundamental, day-to-day financial survival essentials.
According to LaVERDAD President and CEO Mike Robinson, “This program meets several critical needs of Hispanics such as access to direct payroll deposit options for the millions of Hispanics without a bank account; access to ATM’s worldwide; prepaid wireless phone minutes; basic insurance needs such as auto and life; and even repatriation insurance, which ensures that finances are available in the case of death and the participant desires to be buried in their country of origin.”
“FSI chose to partner with LaVERDAD for two major reasons,” said Randy Barker, founder, president and CEO of FSI. “One, because of their instinctive ability to market to the Hispanic population, and because of the business relationships they have already cultivated within the Hispanic community. We fully expect the partnership to produce an affordable financial package for Hispanic consumers who are lacking basic, everyday needs. We look forward to a long and successful relationship with LaVERDAD.”
“This is a tremendous opportunity for LaVERDAD and FSI to combine specific areas of expertise to provide a single product that will enhance the lives of the Hispanic and Latino consumer in the U.S.,” Mr. Robinson continued. “We are honored FSI recognizes us as a leading expert on the topic of Hispanic consumer marketing and strategic development, and are eager to bring this breakthrough initiative to fruition.”
Over 33 million un-banked consumers work in this country and are forced to pay high check cashing fees upon receipt of their paychecks. Along with check cashing fees, the un-banked consumer also faces additional charges to obtain cashier checks or money orders to pay normal, everyday bills.
The card will provide a package of prepaid membership options designed to help its cardholders take care of their day-to-day needs. These options include prepaid health benefits and general insurance, emergency cash, express payment solutions, repatriation burial insurance, and phone minutes.
Well known as a prominent financial provider specializing in membership services centered on the FSI Essential Membership, FSI has more than 20 years of combined experience in the service value card market. FSI has been extremely successful in delivering a wide range of financial services specifically designed to give its members a single point of contact to meet all their financial needs.
Mr. Robinson founded LaVERDAD Marketing and Media in 2003 following a career at Procter & Gamble. LaVERDAD is an integrated marketing and media company specializing in delivering winning solutions to Fortune 1,000 companies wishing to compete and win in the U.S. Hispanic market. Headquartered in Cincinnati, LaVERDAD provides consulting, marketing research, and marketing execution to companies operating in markets across the U.S.