James Gutierrez is passionate about inclusivity and bridging the wealth gap and has used his career to create platforms that will help bridge this gap. Many of the have-nots do not have a credit score, and this prevents them from accessing financial services. It becomes difficult for them to access these services because they end up paying high interest rates, making the chances of defaulting very high. According to Gutierrez, only the top 50% can get favorable and fair financial services. That is why his companies, Oportun and Aura, are dedicated to helping the have-nots hack the system. They use innovative technology that gives the customers a credit score, which is essentially the first step to achieving financial health.
Although the wealth gap hurts the have-nots, it is especially more difficult on minority groups. During crises, white households have a better chance of bouncing back after the crises more than black households, as was seen during the 2007 to 2009 crash of the housing market. James Gutierrez and Aura have strived to give low-interest loans to the people that need financing. In his new project, his goal is to make accessible to customers the tools they require for financial security.
James Gutierrez wants to see transparency on a governmental level for private companies. This means that the government should provide a reporting scheme that has benefits and measures the value of a company. Essentially, this will mean that any company that is interested in getting the benefits will have to make their reports public so that every shareholder can know where the company stands financially. Then they can get lower tax rates on capital gains.
He is a firm believer in change being better when there is value.
He believes that transparency is an essential thing for hard workers to acquire wealth. He is looking forward to launching a platform that is innovative and tailored to serving their customers’ needs.
Original source to learn more: https://www.newsanyway.com/2021/04/14/james-gutierrez-anatomy-of-a-social-entrepreneur/