Bloom Money: Digitizing Ancient Trust for Immigrant Finance
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Resources & Recommendations
People Mentioned
- Nina Mohanty (Founder and CEO of Bloom Money) - The main guest of the episode, discussing her journey in creating Bloom Money and its impact on immigrant financial inclusion.
- Emmeline Pankhurst - A suffragette queen mentioned by Nina Mohanty as someone she'd like to join a money club with.
- Benazir Bhutto - Mentioned by Nina Mohanty as someone she'd like to join a money club with.
- Indira Gandhi - Mentioned by Nina Mohanty as someone she'd like to join a money club with.
- Muhammad Yunus (Founder of the Grameen Bank) - Mentioned by Nina Mohanty as someone she'd like to join a money club with, due to his work with Roskas in developing countries.
- Geert Hofstede - A Dutch individual mentioned in the context of his framework on cultural dimensions, specifically individualism versus collectivism.
Organizations & Institutions
- Mastercard - Where Nina Mohanty worked in fintech before founding Bloom Money.
- Klarna - The buy now, pay later company where Nina Mohanty worked in London.
- Bloom Money - Nina Mohanty's company, an app-based savings and credit system for immigrants.
- Financial Conduct Authority (FCA) - The regulatory body in the UK that Bloom Money had to engage with to explain the concept of a Rosca and get regulated.
- TransUnion - A credit bureau mentioned by Nina Mohanty as a potential partner to help Bloom Money customers build formal credit scores.
- Experian - A credit bureau mentioned by Nina Mohanty as a potential partner to help Bloom Money customers build formal credit scores.
- Equifax - A credit bureau mentioned by Nina Mohanty as a potential partner to help Bloom Money customers build formal credit scores.
- Grameen Bank - A bank founded by Muhammad Yunus, known for its microfinance initiatives and use of Rosca-like systems.
Concepts & Frameworks
- Rotating Savings and Credit Association (ROSCA) - A traditional financial system where groups of people pool funds, and one member receives the lump sum on a rotating basis. This concept is central to the episode and Bloom Money's model.
- Hofstede's Cultural Dimensions Theory - A framework for understanding cultural differences, particularly individualism versus collectivism, which Nina Mohanty used to explain why Roskas are more prevalent in collective cultures.
Websites & Online Resources
- Betterment - Mentioned as an example of a financial service that charges a management fee for assets under management, analogous to Bloom Money's potential future business model for investment products.
Other Resources
- "It's Always Sunny in Philadelphia" (TV Show) - Referenced for a meme where a character has a wall covered in red string connecting notes, which Nina Mohanty's early research wall resembled.