Q&A with Steven Rosamilia, CEO at IMEX USA

The banking “industry” is changing rapidly – almost on a daily basis. However, those changes are not affecting people as much as we may think, particularly the underserved and unbanked.

MEDIA 7: You have a profound and rich experience of around 35 years. Could you please take us through your professional and personal journey?
STEVEN ROSAMILIA: My original career goal after graduating college was to enter law school in Washington, DC. In pursuit of that career, I began working for the US Congress. I found that I was not happy with that career and was fortunate to have been given an opportunity to join a computer start-up. That was the beginning of my career in the technology industry, where I have been ever since.


M7: In the current digital world, how rapidly is the banking sector changing, and in what way it is affecting people?
SR: Great question. The banking “industry” is changing rapidly – almost on a daily basis. However, those changes are not affecting people as much as we may think, particularly the underserved and unbanked.

Those who do not have any or at minimum, reliable access to the Internet are effectively excluded from this economy. Those are the folks that need access to branch banking, which is shrinking day by day.

M7: IMEX’s vision is “to advance the economic well-being of unbanked working people by helping them save money that can be invested in their future.” Could you please shed light on how has IMEX been executing this?
SR: IMEX is delivering the basic banking functions that all people need to survive in an increasingly cashless economy. However, those who do not have any or at minimum, reliable access to the Internet are effectively excluded from this economy. Those are the folks that need access to branch banking, which is shrinking day by day. So they turn to alternative financial services such as Western Union, for bill pay, check cashing, money transfer, etc. Those services are expensive and inconvenient.  Our product, IBank, delivers those basic services at proprietary Point of Sale terminals at local shops. And we deliver those services free of any fees.

Our product, IBank, delivers those basic services at proprietary Point of Sale terminals at local shops. And we deliver those services free of any fees.

M7: What marketing channels do you use and which ones do you see as the most promising given your target customers?
SR: Our marketing channels are more conventional than most other companies since we are trying to reach consumers without internet access.  We will be using local radio and print media in addition to the usual social media platforms.