An Intro To The Kanbee Partnership

The idea for Kanbee started with a question. Why is banking so unfair to the person providing the money? Why are we in this system that gives us a measly 0.02% on our savings? The banks certainly could be doing more for us. Why don’t they? 

The answer to this question of unfairness is actually pretty simple. The banking system profits on our failure. They profit on our overdrafts, our late fees, and our need for debt.  In the end, they count on our failure. It’s a systemic problem that no bank is incentivized to fix.

We started Kanbee to flip this system on its head and remove inequality from banking. We wanted to build a financial system where people can reap the rewards from the investments made with their money. A system that only makes money for Kanbee if our partners (not customers) are also making money.

Here’s how it works. Kanbee allows partners to create custom envelopes for their budget. You can have an envelope for your cell phone bill, rent, or even emergency fund. Kanbee then automatically transfers money from your pay check into these envelopes you create and returns money back to you when you need it. With envelope budgeting, Kanbee earns interest on your money when it’s not being used and makes sure it’s back into your account when you need it.  Kanbee and our partners split the interest earned from these envelopes 50/50 (50% for the partner).

What this system does is tie our partner’s financial interests to our financial interests. If our partner is setting up their envelopes they are reaching their financial goals, and making everyone some profit. But, if they are pulling out early, or overspending, that is less profit for everyone. Your money should be earning more for you, not your bank. That’s our goal for our partners.

We started Kanbee because we believe the mission to take on the broken banking system is worth it. That even if there is a small chance that our company works out, more money will go back to our partners. People would have a better grasp on their finances. They would feel less stress, and more of our partners would get to wherever it is they are trying to go. Kanbee exists to keep our partners on track, because our partner’s success is our success.