Many experts in the financial industry, including James Gutierrez, see that there is a certain racial imbalance when it comes to equality. The many race wars that have been ongoing throughout the pandemic have helped to reiterate just how much of an imbalance that there truly is on race in many sectors across the country. There is a stark divide in the races who receive access to financial products, with most of the 25% who go without being a minority. Over 17% of black households do not have a financial product, while only 3% of white households do not have financial products, for instance.

The goal of leaders such as James Gutierrez is to use the introduction of technology in the financial industry to combat this issue. One example is the FS Card which helps individuals in building their credit through the small $500 limit which acts as a loan of sorts. Speaking of loans, many minorities have difficulties in even securing small business loans and other personal loans due to low credit scores. This is due to the overdrafts or the rent problems, or the 20% who do not have a credit history at all to report on in their scores.

James Gutierrez himself is a son of immigrants to the United States, and he began his company known as Aura Financial to stop these financial problems. The goal is to take risks for those who do not have financial products and to help them in overcoming their credit difficulties. The goal is to put a focus on households that are low income, many of which are minorities, in order to help them to grow financially. Check cashing businesses are not the answer for these people, as the goal is to keep the interest rates lower than a traditional payday loan has.

Learn more about James Gutierrez : https://www.f6s.com/jamesgutierrez