There is an epidemic failure within the banking industry and current money management apps to understand what’s happening with their customers.
Children living at home longer . . . . .
Kids borrowing more from their parents to purchase a home ...
Canadians and our U.S.A friends are at all time debt levels . . . . .
Consumer debt is crippling individuals and consumers need a different way (Even before Covid-19 there was a Manulife consumer report stating 750,000 Canadians live paycheck to paycheck and do not even have $200 in a savings account)
As interest rates rise, more Canadians are going broke ...
In the USA and Canada, Millennials amass $1.67T in debt ...
The founder, Lance Tetlock, has a wealth of experience in many industries and 11 years of banking & lending experience. Upon interacting with 1000’s of customers and their accounts, he discovered a problem.
Retail banking and money management Apps are sales organizations. They are designed so their customers become a "minority shareholder in their own financial lives."
Most Apps copy each other. Their 30 day trials and first tier paid Apps hide the necessary features to budget and plan behind barriers. They use Opt out on-boarding process to have access to your credit card. When the free trial is over they hope you forget about signing up and you are charged for months before you notice. Opt out is where you physically have to contact them to cancel. We will use the ethical option of opt-in.
Free Apps and even most subscriber based Apps earn revenue from:
Sell bank lending products for referral fees (that is just plain wrong for budgeting Apps to do, this further entangles consumers for years
In App purchases to remove barriers, a form of bait and switch
Creating wealth for home ownership, pension income, investment, child's education and lifestyle goals is secondary.
CongruiTy is a new Calgary, AB based company and was founded with a rebellious, contrarian spirit and an objective different from retail banking and money management apps. - We don't treat the customer as the product.
CongruiTy research have found in today's marketplace how short termism has run rampant in the personal finance, retail banking and even the business world. Our values cannot bring us with all conscious be part of it. We have designed a system or program to take the pressure off of today’s consumers. Using net income and cash in and cash out is the only true information system whether a business or personal situation. CongruiTy is the only pure, free from contamination surplus planning system
CongruiTy means a quality of agreement and appropriateness, things that fit together in a way that makes sense.
A team, community or players that work well together.
Our proposed design is closely connected and relevant on what is being talked about today.
We believe in:
Not selling advertising
Not selling your data to third party organizations
Not hiding our education and App behind in App purchase barriers
Not selling banking products to further entrap our subscribers in more debt
Offering education to increase knowledge through free membership or subscription.
Relationship building and will earn your trust by proving our process works. The benefit of this approach, it increases customization and the localization of your plan
Financially rewarding your budget and planning milestones
IN live chat support and even arrange a call if going through complex issues
To minimalist principles and short term voluntary hardship to reshape our subscriber's financial lives and ultimately life balance returns
CongruiTy Money will bring fairness and fiduciary duty to an unfair system. To use time to your advantage instead of against you.
To be with our subscribers on their journey to creating monthly surpluses and independence everyday. By teaching 5 critical money management skills that have been lost in our world of automation. Automation adds complexity and causes us to become detached from our money.
We do need a relationship with our banks but we have to be in control. We hope to educate our subscribers who are the good financial advisors and who are not. But how do you tell? Easy. Ask these 3 questions:
What are the 2 tax free investments in Canada?
What are the 4 pillars of a pension plan?
What is the actual first step to design a pension plan?
If he or she cannot answer these questions, get up, thank them for their time and find a financial advisor who can. They are out there but are tough to find.