With few exceptions, HOA banking has followed the same model since adopting no-fee pricing and integrated receivables over 20 years ago. But because we understand the market's needs and technology's potential, we know where to set the levers to maximize value for the community and management company, as well as Qommonwealth and its investors. The result is a new model for HOA banking.
The core of Qommonwealth’s technology is a platform that is custom-designed only for the HOA community. We ease the traditional HOA banking pain points (account opening, lost payments, returned items, etc.), dramatically increasing accuracy while decreasing cost. The technology also allows Qommonwealth to rapidly respond to changes in the market and seize opportunities.
The HOA ecosystem is made up of millions of individual homeowners with regular financial interaction on behalf of their largest investment (home) and their bank. The ecosystem has broad economic needs that to date have simply not been addressed. Qommonwealth understands these relationships and can provide the financial products, services and tools required.
Traditional banks’ approach to HOAs has been singular: retain and grow inexpensive deposits. We think there is a better, more profitable way.
For investors, Qommonwealth provides a recurring revenue model reinforced by multiple shares of the wallet
