Resources: update bankon (#287)

src/_resources/fact-sheet-enhancing-transit-experience-with-bankon.md

@@ -6,17 +6,17 @@ tags:
   - Contactless payments
 ---
 
-The California Integrated Travel Project (Cal-ITP), in its continuous effort to improve transit experiences for all Californians, is excited to introduce to transit agencies the benefits of integrating with BankOn accounts. These accounts, specifically designed to serve the unbanked and underbanked, offer a host of advantages that can significantly enhance user experience and streamline payment processes for transit agencies.
+The California Integrated Travel Project (Cal-ITP), in its continuous effort to improve transit experiences for all Californians, is excited to introduce to transit agencies to the Bank On Initiative. Bank On accounts, specifically designed to serve the unbanked and underbanked, are bank and credit union accounts that can be used on transit along with any other type of everyday purchase.
 
 ## What is BankOn?
 
 [BankOn](https://joinbankon.org/) is an initiative by the [Cities for Financial Empowerment Fund](https://cfefund.org/) that supports efforts to connect consumers to **safe and affordable bank accounts**. BankOn has developed [model account standards](https://bankon.wpenginepowered.com/wp-content/uploads/2022/08/Bank-On-National-Account-Standards-2023-2024.pdf) for low-fee bank accounts and, when banks meet these standards, are certified as BankOn accounts. There are currently over [400 certified accounts available with 46,000 branches nationwide](https://joinbankon.org/accounts/). Recognizing that approximately 1 in 4 people in California are unbanked or underbanked, BankOn works to bridge the gap, especially for communities disproportionately affected. Namely, [BankOn standards](https://bankon.wpenginepowered.com/wp-content/uploads/2022/08/Bank-On-National-Account-Standards-2023-2024.pdf) tackle a lot of the issues that hinder access to the financial system for unbanked and underbanked populations, including high fees and tedious account opening requirements.
 
-Transit agencies play a pivotal role in the daily lives of many, especially lower-income individuals. With the introduction of contactless open-loop payment acceptance by Cal-ITP, there's an opportunity to integrate financial inclusion initiatives like BankOn. By doing so, transit agencies can ensure that even those who have traditionally left out of the mainstream financial system can benefit from the convenience and security of contactless payments. For more information on other features of accessible banking visit our [Minimum Account Requirements for Transit Riders](https://www.calitp.org/assets/Cal-ITP.Minimum.Account.Requirements.for.Transit.Riders.pdf) memo.
+Transit agencies play a pivotal role in the daily lives of many, especially lower-income individuals. With the introduction of contactless open-loop payment acceptance by Cal-ITP, there’s an opportunity to integrate financial inclusion initiatives like BankOn. By doing so, transit agencies can ensure that even those who have traditionally left out of the mainstream financial system can benefit from the convenience and security of contactless payments. For more information on other features of accessible banking visit our [Minimum Account Requirements for Transit Riders](https://www.calitp.org/assets/Cal-ITP.Minimum.Account.Requirements.for.Transit.Riders.pdf) memo.
 
 ## What are the benefits of BankOn Accounts for Transit Agencies?
 
-Transit agencies are at the forefront of technological advancements in transportation, in an era where efficiency, safety and the user experience are paramount. **Embracing contactless payments through EMV technology is no longer just an option—it's a necessity**. This shift not only streamlines operations, but also removes critical barriers for users, ensuring a seamless and secure transit experience. Partnering with Bank On accounts further amplifies these benefits and offers a myriad of advantages for integration:
+Transit agencies are at the forefront of technological advancements in transportation, in an era where efficiency, safety and the user experience are paramount. **Embracing contactless payments through EMV technology is no longer just an option—it’s a necessity**. This shift not only streamlines operations, but also removes critical barriers for users, ensuring a seamless and secure transit experience. Partnering with Bank On accounts further amplifies these benefits and offers a myriad of advantages for integration:
 
 - **Enabling Contactless Payments**: With the rise of digital technologies and the need for safe, contact-free transactions, BankOn accounts facilitate easy contactless payments, allowing passengers to board and travel without the hassle of physical tickets.
 - **Enhanced Security**: Digital contactless payments are secure, reducing risks associated with handling cash and mitigating potential fraud.