i2c Inc., a leading provider of digital payment and banking technology, today announced that it has been selected by Silicon Valley based challenger bank Aeldra to power its digital private banking services. The innovative mobile bank founded by neo bank veterans is targeting the highly sought after affluent global customers with household incomes greater than $100,000. Aeldra offers seamless access to U.S. banking and investment with an exclusive “digital private banking” experience to international customers.
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i2c Selected by Aeldra to Enable its Pioneering Global Banking Services
The first global-native digital bank founded by industry veterans using i2c’s platform to redefine banking for affluent global citizens (Photo: Business Wire)
As a result of the collaboration between the two companies, Aeldra’s U.S. resident and non-resident international customers can open an FDIC-insured U.S. bank account with a Global Mastercard Debit card in five minutes on a mobile. The first-of-a-kind capability creates a global platform to address an estimated a $20B market. After Mexico, India and China account for the majority of the people and consumer funds flowing into the U.S. and are Aeldra’s primary focus for customer acquisition. i2c’s international capabilities across North America, Europe and Asia, will enable Aeldra to quickly expand to offer banking services in Canada, U.K. and beyond.
“We’re thankful for the recognition of our platform’s ability to address Aeldra’s unique needs and for the opportunity to enable such a truly a visionary approach to global financial services,” said i2c’s CEO and founder, Amir Wain.
Sukeert Shanker, founder and CEO of Aeldra said, “The future of affluent banking is global, and the future is now. With i2c’s partnership we’re making it real. i2c’s global platform and capabilities enable us to scale securely, stably and globally to fulfill our vision of borderless banking. i2c gives us the freedom to focus on the customer, while having confidence that we can deliver the services and experiences that global, affluent customers deserve.”
Aeldra was founded by Shanker, Venkat Gopalakrishnan, Anil Kumar N.S., repeat entrepreneurs with about 20 years of experience spanning banking and technology. The founding team has launched similar banking products previously, including Goldman Sachs’ consumer bank, Marcus, and draws on more than twenty years of experience with leading global companies like McKinsey, Goldman Sachs, Cargill, and Accenture. Aeldra’s partners include Blue Ridge Bank, N.A.
Aeldra is a Palo Alto-based fintech that offers borderless banking to global affluent customers. Aeldra provides global citizens, irrespective of where they live, access to an FDIC-insured U.S. bank account in under five minutes on their mobile. The company’s vision is to be the first truly global consumer bank with a full-suite “Super App” offering banking and investment. This underserved market is large. The regulatory Federal Financial Institutions Examination Council estimates that Non-Resident Alien accounts in the U.S. may hold up to $1 Trillion. Aeldra’s investors include, Silicon Valley VC, Hard Yaka, founded by Greg Kidd an early investor in Twitter. Aeldra’s partners include Blue Ridge Bank, N.A. For more information, visit www.aeldra.com.
About i2c Inc.
i2c is a global provider of highly-configurable payment and banking solutions. Using i2c’s proprietary “building block” technology, clients can easily create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively. i2c delivers unparalleled flexibility, agility, security and reliability from a single global SaaS platform. Founded in 2001, and headquartered in Silicon Valley, i2c’s next-generation technology supports millions of users in more than 200 countries/ territories and across all time zones. For more information, visit www.i2cinc.com and follow us at @i2cinc.