Jobs at SaveLot

SaveLot is the only product offering a prize linked saving account targeting and serving the Hispanic community. SaveLot is creating a fun and rewarding savings account with a free debit card, no minimum balances, and no hidden fees through a bilingual and user-friendly mobile-first platform. SaveLot’s educational platform will offer online tutorials in Spanish to increase the Hispanic community’s financial knowledge and awareness. SaveLot’s financial tips will help Hispanics avoid paying high fees on savings accounts, debit and credit cards, checks cashing, and international money transfers. SaveLot is an open platform. After specializing in the prize-linked savings account market, SaveLot will incorporate additional features the Hispanic market needs, such as cheap international money transfers to their families in Latin America. Hispanics find themselves in difficult positions with traditional banks, due to the frequently complicated, confusing, and poorly communicated fee structures. Many Hispanics lack an awareness that there are better banking options that meet their needs. While there are prize-linked savings accounts offered today, they focus on a mass audience. By concentrating on the Hispanic market, SaveLot’s product will be more tailored to their needs and enable greater focus in customer acquisition. I interviewed and surveyed 100+ Hispanic individuals in New York City. This helped me define the product features and customer segmentation, which includes approximately 1.2 million Latinos/Hispanics in NYC, out of a total of about 3.6 million in the State of New York and a total available market of 66 million in the United States. Specifically, I am targeting Hispanic individuals in the 25 to 35 year old range, with a $0-$2k bank account balance, making less than $50k a year, with extended family living in Latin America and no savings habits.