FinTech: Arival Launches Banking Product for “Abnormal” Customers (BETA)

June 5, 2020 | FinTech, News

Arival is a crypto-friendly fintech bank for SMBs.

Are you one of the following and struggling to get a bank account? Freelancer, tech startup, crypto or blockchain-related business, e-Residency business, a charity organization, blogger, influencer, expat? Well, worry no more. Digital bank Arival will help you (because the bank reads abnormal as above-normal). (FINOVATE)

Arival Beta Account

Digital bank Arival announced its beta launch on Thursday of an online bank account. It caters to the above kinds of abnormal customers that sometimes do not get served by the legacy banking system.

“Too many clients today are rejected by traditional even digital banks because they are viewed as ‘abnormal’, ‘too risky,’ or ‘unusual,” Arival Bank COO Jeremy Berger wrote in a blog. “[These] and many others are rejected by traditional and even digital banks. It’s only a matter of time (before) the demand from abnormal customers will outgrow that of traditional customers.”

In the current beta stage, customers with business accounts can park their funds and transfer them internationally. Subsequently, Arival will introduce individual accounts, cards, multi-currency remittances, and business analytics. Lending, deposit, and savings schemes will follow.

About 3,000 prospective customers on a waiting list will get to open accounts first. These clients are located in the U.S., U.K, E.U., Hong Kong, Singapore, and over 60 other countries.


Vladislav Solodkiy (CEO) and Igor Pesin (CFO) founded Arival in 2017. It was an internal venture of VC firm Life.Sreda and that later became independent.

It is headquartered in Singapore and has applied for a digital wholesale banking license in the city-state.

Its ArivalOS provides a digital banking platform that integrates a comprehensive suite of third-party fintech solutions and services suited for SMBs and entrepreneurs.

In September 2019 Arival raised over $2.3 million in an equity crowdfunding campaign.

“We’re not a neobank or challenger bank,” the company emphasized in its crowdfunding pitch. “We think of ourselves as the first fintech bank. We’ll exist as a licensed bank, (with) forward-thinking compliance (as) our secret sauce, and we plan to bundle some of the world’s hottest fintech products inside one banking platform.”

Related Story:  Varo, Soon-to-be a National Bank, Scores $241M Fundraise                                                  

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Blackstone Acquires Largest Consumer DNA Database
August 7, 2020     Alternative Investments, Private Equity

Private Equity Meets Both Privacy Concerns and Major Growth in Next-Generation Industry.  The PE space is buzzing over private equity giant Blackstone’s acquisition of DNA testing company Ancestry.  The firm…
Private Equity: Ares Raises $5 Billion En Route To $30 Billion 2020 Haul

Ares Leapfrogs Competitors Through Pandemic.  Investment firm giant Ares has raised $5 billion for its private equity fund in the second quarter.  The firm’s goal is to raise up to…
Alternative Investments/Real Estate: HOMZ ETF Issuer To Ring NYSE Closing Bell To Mark Fee Cut
August 6, 2020     Alternative Investments, News, Real Estate

The Hoya Capital Housing ETF (NYSE: HOMZ) announced Wednesday a cut in its expense ratio from 0.45% to 0.30%, effective from August 1, 2020. It claimed that it has the…
FinTech: Grab Financial Flags Off A Bouquet of New Services
August 6, 2020     FinTech, News

Grab Financial Group Expands Suite of Products Under ‘Thrive with Grab’ Strategy