Simple steps for Fintech startups
👉🏼 Yes, it is difficult to secure banking relationships for Fintech these days, but it’s not impossible! the market has already created a fair mechanism allowing Fintech startups to enter the space, learn and improve as they go.
👉🏼 Rewind three years when 3s.money started under the Currencycloud umbrella, this was the point where we acquired invaluable experience in handling client operations and compliance. Today, Currencycloud has 85 different APIs across four modules – collect, convert, pay, and manage – that cover the entire workflow in B2B cross-border payments.
👉🏼 It took us one year to get a safeguarding account with ClearBank® because by this point we were able to demonstrate live clients, proved a sound business model and a clear understanding of what we do.
👉🏼 Now there is Railsbank out there that runs a fantastic program allowing startups to kick off their operations, as well as a few banks in Eastern Europe that will accept Fintech start-ups too; this is the way to do it now.