“Spent: Looking for Change” Highlights the Challenges of the Underbanked

Source: Facebook.com/amexserve

It’s not easy to live outside the traditional financial system, and it’s not cheap, either. For millions of Americans, this has become a way of life that is dragging them deeper and deeper into debt and financial servitude. Fortunately, we live in an era where technology can be harnessed to eliminate the barriers to financial inclusion and it has never been more important to bring these barriers down.

Not long ago, I was asked to include my thoughts on financial inclusion in America for the film “Spent: Looking for Change.” This documentary, produced by Davis Guggenheim and narrated by Tyler Perry, is well worth watching as the film follows four American families as they struggle to make ends meet. Indeed, it highlights the financial problems many face on a daily basis. From paying bills to managing practically usurious interest charges, their stories epitomize the struggles being faced by millions of Americans.

I consider it such an honor to be included in the making of this documentary, and I encourage you to watch it. It’s available to watch for free via The Young Turks’ on both YouTube and Hulu. From start to finish, the film highlights the financial problems and difficulties being faced by far too many American households. The film also presents a number of viable solutions; solutions that if implemented would go a long way towards stabilizing the economic foundation of our country. In turn, these solutions would create a future in which everyone has access to affordable financial services and the opportunities that such access provides.

I have always believed that America is a land of both opportunity and innovation. We’re a nation of thinkers, dreamers and doers. As Americans, we have a history of rising to whatever challenge may be presented to us. That’s why I am confident that together we can create solutions that will make true financial inclusion a reality for every American, regardless of their income or social status.

It is my view that achieving financial inclusion for all segments of the economy is the key towards generating a better future for us all. I invite you to watch “Spent,” and then join the discussion with me on Facebook or Google+ and to connect with me on both Linkedin and Twitter. The more we share our views and ideas, the greater the results will be as we work to achieve this goal.

About Carol Realini

Serial Entrepreneur, Mobile Payments and Banking Pioneer, Author, Board Member Carol Realini is a successful Silicon Valley executive and expert in financial service innovation. She has worked with leading financial institutions including MasterCard and Citi, as well as numerous multinational and regional banks, to change the way banking is conducted. In 2011, as a Technology Pioneer attending the World Economic Forum, she led discussions on alternative banking at their meeting in Davos. A serial entrepreneur, she has been recognized as one of the 50 Top Women in Technology by Corporate Board Member magazine. Carol is a huge believer in the potential of mobile banking and payments to create financial inclusion - where everyone with a mobile phone has access to affordable financial services that empower their life and work. To understand Carol's vision please watch the WEF video (click on the weforum.org link below). Carol also mentors entrepreneurs providing wisdom and lessons learned from her four successful startup experiences.

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