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  • Writer's pictureAustin Jones

How SoshWallet Is Leading The Financial Transparency Movement

SoshWallet is the social wallet for transparent banking among groups. While the banking industry has been making a shift towards being more transparent, we want to explain what's causing this shift and how SoshWallet is helping.

The banking industry has seen a lot of changes over the years, both in terms of regulation and technology. Perhaps one of the most important changes has been the increasing transparency of banks. In the past, banks were able to get away with more because their customers didn’t have access to information. Thanks to the internet and social media, customers are much more informed about their rights and what they should expect from their banks in todays world.

Banking is an industry that has been shrouded in secrecy for centuries. This is largely due to the fact that banks are in the business of handling other people’s money. As such, they have always been very careful about who they let in on their secrets.

In recent years, however, there has been a push for greater transparency in the banking industry. This is largely due to the numerous scandals and crises that have rocked the banking world in recent years. From the collapse of Lehman Brothers to the Panama Papers scandal, there has been a growing demand for banks to be more open and transparent about their operations.

This increased transparency has led to a lot of positive changes in the banking industry, such as increased competition, better customer service, and lower fees. But it has also brought some challenges, such as the need for banks to adapt to new technologies.

According to Forbes - "Transparency is no longer an option, It's a must!"

SoshWallet makes it easy. Even if your bank doesn't have transparent group banking features, our app makes it possible! Just download SoshWallet, add your groups members, and everyone instantly has auditing access!

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