Totem Technologies to supply the Eastern Shawnee tribe with Fintech
The Eastern Shawnee Tribe of Oklahoma will hire Totem Technologies’ secure financial solutions, TG&H announced yesterday. According to tribal gaming news, the deal will allow members of the tribe to use Totem’s digital bank accounts.
Totem will provide the tribe with financial solutions
The report noted that the Easter Shawnee Tribe and Totem Technologies will join forces to “deliver culturally relevant financial products and education.” The collaboration will also streamline access to various benefits from the tribe.
The Eastern Shawnee Tribe, already experienced in fintech, becomes Totem’s first announced partner. The tribal entity is the majority owner of People’s Bank of Seneca in Missouri and is currently working on a Metaverse-based virtual casino project. The agreement with Totem Technologies will provide the tribe with the additional financial support it needs.
Under the agreement, Totem will allow the Eastern Shawnee Tribe to offer FDIC-insured accounts with no monthly fees or minimum balance requirements to its members across the United States. All accounts will be held in partnership with First Priority Bank, an Oklahoma-based FDIC member.
Totem Tech is a company designed to improve the financial health of its customers in addition to the virtual and physical payment solutions it offers. The fintech specialist is primarily focused on tribal entities and is well-acquainted with the difficulties of working with tribes. A portion of every Totem debit card transaction goes back to the tribe, supporting the financial health of Native Americans.
The deal will help Eastern Shawnee’s Excel
Glenna J Wallace, the chief of the Eastern Shawnee Tribe, spoke about the deal with the innovative fintech company. She noted that the agreement will see the tribe armed with cutting-edge financial products that will empower its members. At the same time, the agreement will increase economic opportunities in areas where the tribe is already overgrowing.
Amber Booker, founder and CEO of Totem Technologies shared that she is excited to welcome the Eastern Shawnee Tribe as a partner. Buker noted that the agreements with tribal entities will allow Totem to establish new Native fintech traditions, helping Natives thrive for decades to come.
Totem plans to officially launch its solutions in a few months. The company will remain strongly focused on making Indians feel included by providing them with robust digital banking technology.
