ARRIVAL of a fintech bank for businesses and entrepreneurs. A RIVAL for traditional and digital banks who are not willing to serve “abnormal” clients.
What is the problem? Too many clients today are rejected by traditional and even digital banks because they are viewed as abnormal, too risky, or unusual.
Who does this affect? E-Residency businesses, charity organizations, expats and refugees, legal sellers of marijuana, freelancers, crypto or blockchain-related businesses, politically exposed persons, bloggers and digital influencers, and more face a real challenge when trying to open a bank account.
Why does this problem exist? The answer is simple: compliance. It's not forbidden to work with these abnormal clients, regulators just require banks to be prepared enough, equipped enough, and responsible enough to onboard such customers. Compliance is an obligation, headache and an expense for banks - not their passion, key feature, or expertise.
We are built to address this problem. We are arguably the first bank that has made compliance our “secret sauce” and biggest differentiator. We’ll onboard these customers in a sophisticated, seamless, and completely compliant manner. We believe the market for abnormal clients will only continue to grow dramatically — this is a blue ocean with limited competition today.
*We have applied for our IFE banking license, but there is no guarantee that the license will be issued. While we wait for the issuance of the license, we will remain pre-launch. We expect to receive the license and launch in October 2019, but will be unable to launch until the license is issued.
