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, expats and refugees, crypto/blockchain-related businesses, politically exposed persons, 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. Regulators require banks to be equipped and responsible enough to onboard such customers. Compliance is usually an obligation, headache and an expense for banks - not their passion or key feature.
We're not a neobank or challenger bank.
We think of ourselves as the first fintech bank:
· We'll exist as a licensed bank
· Forward-thinking compliance is our secret sauce
· We plan to bundle some of the world's hottest fintech products inside one banking platform
The timing is prime
The underbanked SME industry is a combined trillion dollar industry. Freelancers, startups & SMEs present a real demand for banks, which has yet to be met. This is a relatively untapped market (especially in the US). It is likely innovation in the SME space will continue to grow, which means more of these businesses and entrepreneurs will be seeking forward-thinking fintech partners to meet their banking needs.
Enter Arival.