SOURCE: FastFunds Financial Corp.

December 16, 2013 07:47 ET

FastFunds Financial Corporation Subsidiary, Financiera Moderna, Announces Development and Marketing of Spanish Speaking Financial Literacy Product

WEST PALM BEACH, FL--(Marketwired - December 16, 2013) - FastFunds Financial Corporation (OTCQB: FFFC) announced today through its majority owned subsidiary, Financiera Moderna ("FM"), that its related insurance marketing group, Compra Vida, Inc., has completed development and plans to begin marketing in early 2014 a Spanish speaking financial literacy product. This fee-based course will teach Spanish speaking consumers the American finance system including banking, credit, housing, mortgages, insurance, and other financial aspects that these consumers may not be familiar with. The current demographics fully support this type of product as Latinos are ranked as one of the highest unbanked ethnic minority in the United States. It is estimated that 20% of all Latinos do not have a checking account. Furthermore, 29% of all Latinos do not have health insurance and they comprise the largest segment of the 48 million uninsured in the United States. It has long been recognized that Latinos are the most underserved ethnic minority group in the United States. 

The current Hispanic population on the U.S. is estimated at 52 million people which is larger than the population of Canada. This is forecasted to reach 79 million by 2030. 

Mr. Alfredo Rodriguez, Chief Executive Officer of FM and President/CEO of Compra Vida, said, "This is the right product at the right time based on our research. Hispanics view financial products and services through the lens of their home country so education is the starting point to move these consumers to become customers."

About FastFunds Financial Corporation
FastFunds Financial Corporation is a holding company that is publicly traded on the Over-the-Counter QB under the symbol "FFFC." The Company currently operates in the financial services industry segment with a single credit card services portfolio. The Company is currently seeking new business opportunities to diversify and complement our current services and products, enhance our technical capabilities and offer growth opportunities for our stockholders.

FORWARD-LOOKING STATEMENTS
This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact Information

  • For Further Information Contact: 
    Henry Fong
    Chairman 
    561-514-9042