US challenger bank Aeldra has rolled a premium mobile banking app to offering exclusive global banking to affluent customers across the world.
Through the new offering, the start-up intends to offer global access to US banking and investment with digital private banking experience.
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The Silicon Valley-based mobile banking platform initially aims to add 300,000 accounts to the app.
Founded by neo-bank veterans and backed by fintech investors, the mobile bank is looking to onboard customers with household incomes of more than $100,000 per annum.
Aeldra allows users around the world to open a US bank account within five minutes from their mobile devices, providing borderless banking to people.
The challenger bank is planning to reach nearly 100 million consumers across Brazil, Russia, India, China, South Africa (BRICS) and more.
Aeldra CEO Sukeert Shanker said: “To access global banking, the simple act of opening a US bank account without a SSN is challenging for customers, let alone getting approved for a US credit card or loan. Globally-mobile and affluent individuals across the world deserve more.
“With Aeldra, they can now open an FDIC-insured US bank account with a Global Mastercard Debit card from their home country in five minutes. After US, Canada and the UK are other major markets.
“Aeldra intends to serve a common pool of overseas professionals, students, families, investors, small business owners and freelancers with banking and investment needs in those markets.”
