Abstract: A system and method for providing a virtual social banking platform, where the system creates and powers social banking networks made up of participants saving, investing, borrowing, and lending money through a computerized platform. A social savings network allows users to use social networking and social communications to monitor and encourage other participants to meet their savings goals, while a lending circle network allows participants to periodically contribute funds to a network reserve account, and, in rotation, individually access at least a portion of the funds in the network reserve account as funds for a loan, investment, or other payout option. AI and machine learning allows the system to track the spending and saving habits of users to offer incentives for meeting financial goals and to connect users with external financial institutions and products.