Inspiration

The inspiration comes from the Cheese Bank which aims to raise corporate social responsibility and provides cash back to debit card users and donates some to enterprises.

What it does

The website is a bilingual page and Panda Bank is a neobank with offering specifically for the Asian community. We hope our help could provide a small business the resources and knowhows to survive and thrive during the economic recovery. We focus on 3 main product offerings in Deposit banking, lending, and mortgages. Our deposit banking service focuses on the cash back element, providing our users up to 10% cashbacks to over 10,000 small business online and offline; we understand the value of community support, so many of our vendors will be Asian-community based or Asian founded. Another service offering will be our lending segment, many Asian-founded businesses lack the resources and knowledge for small business support programs like the Paycheck Protection Program, we provide a translated version application process so applicants from our community would understand all underlying conditions and requirements to apply. The PPP application is currently undergoing, and Panda will ensure we’ll be on your side all the way until you have your loan. The final piece will be our mortgage service, we selectively chose a few lending partners who are willing to provide translated support for our community members and provide the best rates possible.

How I built it

We used mix to create a prototype for our website. We named this bank panda because panda is a national treasure of China. Our logo is two pandas hugging, representing community. We first set up a home page to display the overall information of our website and the brief information of our three services. Below the introduction of each service on the home page, there are buttons to jump to the detailed introduction page of each service. We also set up a special application page in order to provide applications for users who want to use our services. Those users can enter their relevant information on this page, and then contact us to apply for use. We use wix to implement the entire website, because wix can build a website template that implements simple interaction. And wix has the function of creating sub-pages, which allows us to jump to sub-pages under the page.

Challenges I ran into

The biggest challenge is how to integrate our solutions for how to solve the financing difficulties of SMEs into a strategy with a specific business form. Our initial idea was to provide a forum where SMEs can seek help and explain their own situation. However, such forums are very difficult to manage and require a large number of personnel to do censorship work. Later we saw Cheese Bank, a challenger bank that offers very direct discounts to their customers. So we thought that we could be such a bank that provides discounts for small and medium-sized enterprises. SMEs can directly receive discounts when using our debit card. In addition, we also provide lending and mortgage related services and information.

Accomplishments that I'm proud of

We are very proud that, as a beginner in this field, we can use our business ideas and some computer technology to provide some help to small and medium-sized enterprises within our capacity. The epidemic has caused many companies to face financing difficulties and the risk of business failure, and we can make some contributions to such companies, which makes us proud.

What I learned

We learned how to use a coherent and complete business strategy to support some of our ideas about corporate social responsibility. Corporate social responsibility does not conflict with business. We can even use business models to help the society and achieve a win-win situation between business and society. In addition, we learned to use computer technology to present our business ideas. We used a website template to show the specific service sections and operation methods of our business model.

What's next for COVID loan program access (Nelson Lin) - Fantastic Work

The next step is to raise funds and find partners, and finally form a realistic web page according to the web design. Our deposit sector needs funds to maintain our operations. In order to reduce the operating pressure at the beginning, we can first limit the scope of operation to a specific area, such as ChinaTown, for trial operation. At the same time, according to any problems found at this stage, we will adjust our operating model and improve some specific rules. Then we can increase financing to promote and maintain the website to attract more customers.

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