In Ron Shevlin’s latest Observations from the Fintech Snark Tank article, the Forbes Senior Contributor hones in on a topic we’ve been discussing for years: personalization in banking.
Shevlin’s Forbes article, “There Are Banks For Black Americans And LGBTQ Consumers: We Need A Bank For Everyone,” navigates past traditional banks that offer “customized” products and “tailored” services, and arrives at a place of opportunity and understanding—all made possible by new FinTech players in the space.
Also known as Challenger Banks, these FinTechs go beyond what traditional banks have tried and failed to provide their customers for decades—banking just for them. And Shevlin hits it right on the nose when he says that, “They’re not just creating personalized solutions, they’re creating personalized banks dedicated to serving the unique financial needs of specific consumer segments.”
As a newer Challenger Bank, Panacea Financial is honored to make Shevlin’s top seven list of personalized banks. As the title of his article suggests, the need for a personalized banking option for “everyone” is growing. Which is one of the many reasons why Panacea was created.
Because legacy banks often turn down medical students, residents and newly practicing doctors due to high debt-to-income ratios (as a result of student loan debt and moderate income levels as a resident), these individuals are forced to accept high interest rates or are required to have a cosigner.
But not at Panacea.
Residents, fellows, and practicing physicians can secure a loan from Panacea with just a medical license and no adverse credit events.
And best of all, their customer service is also designed around physician needs. This includes 24-hour concierge support and a ‘primary care banker’ that provides personalized service. Say goodbye to 9-5 encounters with a faceless entity, and join Panacea Financial – the challenger bank for doctors.