- Legal States
Fiona Simmons January 20, 2023 2 min read
Totem Technologies to Supply the Eastern Shawnee Tribe with Fintech
The Eastern Shawnee Tribe will benefit from Totem Technologies’ solutions once the fintech provider launches
The Eastern Shawnee Tribe of Oklahoma will employ Totem Technologies’ safe financial solutions, TG&H reported yesterday. According to the tribal gaming news outlet, the agreement will allow members of the tribe to use Totem’s digital banking accounts.
Totem to Supply 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 partnership will, at the same time, streamline access to various benefits provided by the tribe.
The Eastern Shawnee Tribe, which is already experienced with fintech, will be Totem’s first announced partner. The tribal entity is a majority owner of the 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 extra financial support it needs.
Under the agreement, Totem will allow the Eastern Shawnee Tribe to offer FDIC-insured accounts without monthly fees or balance minimum requirements to its members across the US. All accounts will be held in partnership with the First Priority Bank, an Oklahoma-based FDIC member.
Totem Tech is a company that is 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-familiar with the intricacies of partnering with tribes. A portion of all Totem debit card transactions goes back into the tribe, supporting the financial health of Native Americans.
The Agreement Will Help the Eastern Shawnees Excel
Glenna J Wallace, the chief of the Eastern Shawnee Tribe, spoke about the agreement 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 deal will grow economic opportunities in areas where the tribe already exceeds.
Amber Buker, the founder and chief executive officer of Totem Technologies shared she is glad to welcome the Eastern Shawnee Tribe as a partner. Buker noted the agreements with tribal entities will allow Totem to establish new Native fintech traditions, helping natives thrive for decades to come.
Totem is planning to officially launch its solutions in a few months. The company will remain firmly focused on making Native Americans feel included by providing them with robust digital banking tech.