In the wake of the financial crisis came the realization that what we have; our job, money, property or other financial investments, can be taken away or dramatically devalued because of the actions of others. People were left with little to no resources. However, what we are able to retain are our intangible assets; a social network, the skills we have, and our ability to act. From our social, academic, and professional networks we gain opportunities and access to resources.
This bank facilitates and mediates peer to peer transactions negotiated through the bank. Rather than the bank functioning as a middle man between members it acts as a facilitator for trades or sales of services and products as well as of micro-loans. It stores both the ratings from these local transactions as well as recommendations from professional and academic affiliations. The goal is that members will be able to supplement their income with work made available through the bank as well as be able to accrue reputation so that they will have more valuable assets when applying for jobs, for school, and for access to local resources in their neighborhood. Just like on couch-surfer or Air BnB, or other online platforms that give individuals personal financial power through the accruement of ratings, the better ratings one receives the more opportunities they will have to earn money, credits, or access to money saving resources.
Although the recommendations from employers and teachers will be accepted, the ratings from local transactions between community members part of the bank will be backed by the bank because these negotiations will take place on site with a bank employee as a mediator.
This location will also provide workshops for individuals who want to increase their ability to offer services or products valuable to the community.
Ones 'credit report' and transactions as well as catalogue of local resources will be available on site as well as through an online platform.
In order to make the bank accountable to the community or 'shareholders' of the bank, there will be regular meetings available for members to discuss the operations of the bank with the employees to aid in complete transparency of the operations of them bank.