MOXY Holdings has submitted a banking license application to the D.C. Department of Insurance, Securities and Banking and FDIC. Upon approval, MOXY Bank anticipates opening in 2019.
MOXY Bank (proposed) will be the District’s first new community bank in 20 years. The bank’s focus is to create financial equality throughout the communities served by combining the latest technological advancements with community banking values.
“MOXY’s customer strategy will be defined by staying true to our mission and core values while remaining committed to serving the needs of the community proactively and responsibly,” said Casey G. Mauldin, president and CEO of MOXY Holdings. “MOXY’s progressive and innovative platform separates the bank from the competition by providing access to long-awaited products and services designed to promote financial equality.”
“As the demographics of the D.C. region change and evolve, there is a need for an institution to focus on the growing needs of new majority businesses,” said Melissa Bradley, an organizer of MOXY Bank (proposed). “This focus includes improving the financial health and vitality of the community, particularly for those that have been overlooked and underserved.”
MOXY, the mobile-first digital challenger bank, will be the first of its kind to MObile eXperience Your bank. Through its value proposition and digital platform, a subscription model will be implemented to provide an enhanced level of financial products and services.
Its advocacy approach levels the playing field and achieves greater equality for the communities served regardless of economic or social status. MOXY’s low-cost subscription model and anywhere availability will remove the barriers these communities have faced from traditional financial institutions and move them into the mainstream.
