A first amongst U.S. challenger banks, offering exclusive global banking to affluent customers
PALO ALTO CITY, Calif., Dec. 10, 2020 /PRNewswire/ -- Aeldra, a pioneer in global banking based in Silicon Valley, has launched its mobile banking appfor global affluent customers. Aeldra uniquely offers global access to U.S. banking and investment with an exclusive "digital private banking" experience. This innovative mobile bank founded by neo-bank veterans is targeting the highly sought after affluent global customers with household incomes greater than $100,000 and is backed by leading fintech investors.
Aeldra bridges a sizable market gap targeting about 100 million affluent and mass affluent consumers in the BRICs+ countries with global mindsets and lifestyles. Traditional banks offer limited cross-border banking tocorporate/private banking clients and continue to remain country-boundfor consumer banking. Aeldra offers seamless borderless banking enablingglobal citizens to open a U.S. bank account in 5 minutes on their mobile fromoverseas.This first-of-a-kind capability opens up a $20B market with potential larger latent market. 60%-70% of people and new consumer fund flows into the U.S. come from India and China (excluding Mexico). Aeldra aims to dominate this market growing at more than 30% in dollar terms.
Sukeert Shanker, CEO Aeldra, said, "The future of banking is global, and the future is now. Aeldra is making it real. To access global banking, the simple act of opening a U.S. bank account without a SSN is challenging for customers, let alone getting approved for a U.S. credit card or loan. Globally-mobile and affluent individuals across the world deserve more. With Aeldra they can now open an FDIC-insured U.S. bank account with a Global Mastercard Debit card from their home country in 5 minutes. After U.S., Canada and U.K are other major markets. Aeldra intends to serve a common poolof overseas professionals, students, families, investors, small business owners and freelancers with banking and investment needs in those markets."
Aeldra (www.aeldra.com), a Palo-Alto-based fintech, offers borderless banking to globally affluent customers. Partnering with Blue Ridge Bank N.A. and Mastercard,Aeldra's vision is to be the first truly global consumer bank and a financial Super-App. The founding team of Sukeert Shanker, Venkataraman, Anil Kumar and RajeshRaju have decades of experience in launching digital products, and have launched two de-novo digital banks including Marcus by Goldman Sachs.