It will help BRICS-plus countries, starting with India
New partnership focused on banking and financial services needs in the U.S.
Mumbai, NFAPost: Blue Ridge Bank, the national bank subsidiary of Blue Ridge Bankshares, Inc announced a partnership with Aeldra Financial, Inc., a Silicon Valley-based financial technology company, to launch a mobile neobank called Aeldra.
The neobank bank will target customers in BRICS-Plus countries (Brazil, Russia, India, China, South Africa, and others) who have cross-border banking needs in the United States, starting with India.
Aeldra Founder and CEO Sukeert Shanker said the US continues to attract the best and brightest from across the world.
“They deserve seamless access to U.S. financial services. However, the simple act of opening a bank account without an SSN is challenging, as is getting approved for a credit card or loan. Our special partnership with Blue Ridge Bank aims to close the accessibility gap. Brian and Brett are among the most forward-thinking leaders in banking and we are delighted to partner with them,” said Sukeert Shanker.
Blue Ridge Bank President and Chief Executive Officer Brian K. Plum said Aeldra meets a significant need in today’s banking environment.
“We are proud to partner with Sukeert and his team as we work together to provide unprecedented financial access to an underserved segment in the BRICS-Plus countries,” said Brian K. Plum.
Aeldra offers interest-bearing accounts with debit cards and mortgage loans, all of which are backed by Blue Ridge Bank’s traditional financial infrastructure. Aeldra plans on offering a line of credit products, such as credit cards, in the near future.
Blue Ridge Bank Executive Vice President Brett Taxin said Sukeert previously built two leading digital banks and we’re excited to help him try to three-peat with Aeldra.
“Aeldra is at the forefront of accelerating demand for mobile-first, global banking services. We look forward to working with them to serve a historically underserved community with their specialised financial needs,” said Brett Taxin.
Based in Palo Alto, Aeldra is a pioneering ‘Digital Neobank’, democratising global banking. Starting with the US-INDIA corridor, it aims to offer borderless banking to everyone regardless of their nationality. Aeldra’s founder has launched similar banking products previously, including Goldman Sachs’ consumer bank, Marcus.
Blue Ridge Bank is the wholly-owned banking subsidiary of Blue Ridge Bankshares, Inc. Through its subsidiaries and affiliates, Blue Ridge Bank provides a wide range of financial services including retail and commercial banking, payroll, insurance, card payments, wholesale and retail mortgage lending, and government-guaranteed lending. The bank provides commercial banking services to customers located throughout Virginia and North Carolina.