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Prize-linked savings accounts for Hispanics1-10 Employees
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Prize-linked savings accounts for Hispanics
SaveLot is a mobile-first platform that encourages Hispanics to save more by providing incentives through a prize-linked savings account.

SaveLot provides every customer with a savings account that pays interest and offers weekly prizes using a lottery system. Customers with more money in their accounts have a better chance to win a weekly prize. As more customers join the platform, the prizes will increase in quantity and value, creating a flywheel effect for growth. Moreover, SaveLot includes a free debit card and an education program with tutorials to help Hispanic individuals learn basic financial concepts and tips on improving their financial health.

Additional opportunities for SaveLot include offering low-commission international money transfers and low-cost credit cards.
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