Latina/x Founders Debut Culturally Competent SHENIX™ Fintech Web-Based App Empowering Latinas/x to Create Financial Legacy

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Financial industry expert Olga Camargo knows that in many Latina-led households, these women—in addition to being caretakers and community advocates—have the power of the purse strings when making financial decisions for their families and their businesses. Because financial apps fail to prioritize the Latina cultural mindset, these women have difficulty finding financial and investment resources that speak to their culture and aids in building their own personal and professional wealth and prosperity.

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"Juan Carlos, Patricia, and I see SHENIX™ as a powerful and much-needed financial tool that will help Latinas build a stronger foundation of who they are, and what they are worth, and help them achieve their life dreams."

Financial industry expert Olga Camargo knows that in many Latina-led households, these women—in addition to being caretakers and community advocates—have the power of the purse strings when making financial decisions for their families and their businesses. Because financial apps fail to prioritize the Latina cultural mindset, these women have difficulty finding financial and investment resources that speak to their culture and aids in building their own personal and professional wealth and prosperity.

Realizing there needs to be a solution to help Latinas achieve the next level, Camargo, with national leaders and business partners Juan Carlos Avila and Patricia Mota formed SHENIX™, a fintech web-based app designed for Latinas that makes wealth creation possible and helps close money gaps. Latinas will be able to make decisions with confidence for themselves, their family, and their community. Camargo is the Founder & CEO for SHENIX™, Avila is Co-founder and President; and, Mota is Co-founder.

“Juan Carlos, Patricia, and I see SHENIX™ as a powerful and much-needed financial tool that will help Latinas build a stronger foundation of who they are, and what they are worth, and help them achieve their life dreams,” explained Camargo.

The idea for a tool was born out of Camargo’s frustration with what she witnessed working part-time as a high school student at her mother’s bridal shop located in Chicago’s Little Village Mexican neighborhood. A financial consultant who only spoke English asked a young Camargo to translate his information for her mother. He then pitched directly to her while ignoring her mother.

“I said to myself, ‘This isn’t right,” Camargo said. “I realized Latinas were trying to make important financial decisions and they were struggling. Also, I saw that there were no resources to give these women access to financial information and guidance. After experiencing firsthand the negative impact as well as seeing a lack of culturally relevant financial tools and resources in the Latinx community, my team and I took our combined 80+ years of experience building businesses, delivering investment advisory services, and providing culturally relevant career and financial programs to create this empowerment tool for Latina professionals nationwide.”

The easy-to-use, on-demand app will provide financial educational, investing tools, banking services, career planning, and salary negotiation resources, and investment advisory services through a unique digital experience that prioritizes the Latina cultural mindset.

“Currently, Latinas suffer the widest wealth gap in the United States, making a mere 49 cents for every dollar paid to Caucasian men, according to the National Partnership for Women & Families,” Camargo said. “While that is a devastating statistic, this unfair divide is aggravated further by the pandemic that started in 2019 and continues. We believe that without culturally compatible financial solutions, Latinas will be unable to ascend financially.”

The founders are proud to launch SHENIX™ as it will change the lives of Latinas across the country and will help Latinas build their financial legacy.

“With SHENIX™, we will meet the needs of Latinas/x who lead a community with powerful economic contributions, representing a $1.7 trillion purchasing power, $2.8 Trillion GDP, and opening businesses seven times faster than any other group in the U.S.,” Camargo said.

“We know firsthand the financial impact SHENIX™ will have on generational wealth within the Latinx community for decades. We have created a fintech tool that will lessen the cultural divide for Latinas on an individual basis, in the business sector, and ultimately transform their personal, professional, and familial experiences.” For more information, visit http://www.shenix.app.

About SHENIX™:
SHENIX™ is an innovative financial company built by Latinas/x, for Latinas/x, providing culturally relevant financial services to the Latina/x community to help them accelerate their economic and social transformation while prioritizing their cultural mindset. SHENIX™ offers financial education, digital financial services, career planning, and salary negotiation resources, and access to investment advisory services that support Latinas/x life goals. Our mission is to address Latina Equal Pay Day and support Latinas to close the wealth gap, the widest faced by any group in the U.S. SHENIX™ is supported by the University of Illinois System, U.S. Hispanic Chamber of Commerce, Illinois Hispanic Chamber of Commerce LatinX Incubator, Hispanic Alliance for Career Enhancement, LatinaStyle Magazine, TechRise by P33, and is a member of 1871—Chicago’s premier technology and entrepreneurship Center. Negocios Now National Hispanic Business Publication listed FARO Associates DBA SHENIX™ in its “50 Most Powerful Business in Illinois.” For more information, visit http://www.shenix.app. ###

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