Venture Concept 1- Edubanking

Opportunity
Many online banking websites provide minimal information explaining the banking tools that the bank offers, basic definitions, concepts, budgeting tools. I've also talked with several people who are frustrated that they can't talk to a real person when they call their bank's number. People these days get wrapped up in credit card debt, the wrong student loans, and various other loans that they don't understand. It can be hard knowing who's financial advice to heed when googling various financial terms, and most want fees up front. Banks are facing very low Marginal Propensities to Save (the amount that people save out of every additional dollar of income). Although disposable incomes got a boost from the recent tax break, American's MPS is still only 2-10 cents of every dollar. Every single bank and credit union in the US is facing these low savings rates.

Innovation
I will be selling membership fees to my website filled with unbiased topical information. Customers access my website through their bank's website. I will work closely with the initial bank partner (I'll start with my hometown bank that I have a 12 year relationship with) to cover all the information pertinent to what the bank offers, and also common topics such as mortgaging, car loans, student loans, investment types (portfolio analysis) and budgeting. I will offer primarily podcasts, or video lectures similar to Khan Academy. I will also provide links to reliable external sources of information, before I am able to create all the content myself.
The bank has the option to subsidize membership fees for their customers to increase enrollment. There will be small monthly fees of $10 to individuals if they are unsubsidized. No contracts will be implemented.

Venture Concept
My venture meets the needs of those individuals to have a difficult time understanding complex financial tools and options. I will be the credible third party source that their hometown bank has endorsed. For the bank, I will be educating their customers. This education will increase awareness of all that the bank offers, which will contribute to more financially involved customers. The goal will be to help individuals help themselves, and make sure they understand how to make choices best suited for their situation. The competitors are not going to banks directly, and this service will strive to fully integrate itself to the needs of the local bank and local patrons.

My Secret Sauce
The unfair advantage that I have in this first stage of the startup is the long-running relationship I have with my bank as a customer for the last 12 years. I know many people within the bank, and they will be able to help me arrange meetings, know who to talk to, and increase my credibility. This social capital is invaluable.

Moving Forward
Once I have proven my venture a success with my hometown branch, I will have the credibility and momentum to open up my services for memberships with other banks. I hope to grow to offer services with 10 banks within the first 5 years.

Living Life
After those 5 years of running a business with a track record of educating and helping individuals AND their banks, I hope to be able to sell off the business to a company with more resources. I will invest the money elsewhere and settle into a different lifestyle without so much travel or podcast recording.