Digital Banking Platform Serving Asian Americans Launches in Pasadena

Cheese Financial Inc. announced the launch of a new “first-of-its-kind” online banking and social cause platform headquartered in Pasadena on Wednesday.

Cheese is geared toward serving primarily Asian Americans and immigrants in the U.S., “providing customers accessible, zero-fee, rewards-based banking while simultaneously giving them a seamless way to support Asian-American and immigrant-owned businesses, at-risk communities, and charitable organizations with each purchase,” the company said in a written statement.

It was co-founded by CEO Ken Lian, who is himself an immigrant, international student and “serial entrepreneur,” whose own experiences helped shape the new company, according to Cheese.

“I had paid thousands in unnecessary bank fees and been declined multiple times for basic bank accounts, even with an 800+ FICO score,” he said. “I have always envisioned launching a digital banking platform that someone like me could easily access but also serves a deeper purpose, with the power to positively impact Asian communities. Cheese is that banking platform.”

To coincide with the birth of the business, Cheese has pledged $100,000 to its Cheese Giveback Fund, which will be used to support nonprofit organizations and community programs in Asian neighborhoods struggling with hardships, according to the company.

“Initial efforts will focus on San Francisco, Los Angeles and New York City with plans to expand to other cities,” the statement said.

Actor, musician and advocate for the rights of Asian Americans Jimmy Wong has joined on to the organization as Chief Community Ambassador, representatives said.

“I am honored to join Cheese to help lead the way in protecting and revitalizing the incredibly diverse Asian communities across this country,” Wong said. “It is beyond important to us to create sustainable and lasting change. The team at Cheese genuinely believes in using their business and platform for good, and I passionately agree with that philosophy.”

More information on Cheese can be found on the company’s website at earncheese.com.