SKYLIGHT FINANCIAL

Skylight Financial, Inc., headquartered in Atlanta, GA is a leading provider of electronic banking solutions to corporations and individuals. Skylight utilizes its proven technology, operations, and marketing expertise to offer its Skylight account to the more than 55 million unbanked individuals. Skylight focuses on this customer base to provide a banking relationship to those individuals who may not, for various reasons, have a traditional banking relationship. Founded in 1998 as a respon... se to the U.S. Treasury mandate that all Social Security and other Federal Benefit recipients receive their benefits by direct deposit, Skylight has become a viable option for many individuals to enter or reenter the banking system. Skylight focuses on specific markets that historically have been underserved by the banking industry. Skylight's target market consists of the unbanked individual as well as the companies that employ them. Generally, Skylight targets employers who have a high percentage and / or high number of low to moderate income, hourly employees. The unbanked population includes those who receive government benefits, payroll checks, and other types of payments, but currently have no banking relationship. Companies are seeking to move all employees to direct deposit as a means of providing additional employee benefits while reducing payroll costs and increasing employee productivity. It is estimated that 25% to 30% of the U.S. work force is unbanked. The percentage of the unbanked among immigrant workers is believed to be even higher.More