U.S. digital banking startup Azlo backed by BBVA is ready for a launch.
Banco Bilbao Vizcaya Argentaria will open a U. S. digital banking startup, Azlo, for business this week. This will be beneficial for digital money users. Nowadays digital money transactions are in fashion. Young generation believes in using digital currency or plastic currency instead of liquid currency. So new and new concepts popping out every day.
This startup BBVA will give his services to small businesses and freelancers. This company will be based on BBVA’s banking license and payment infrastructure to operate across the United states and above all this will be an independent company. The founder and CEO of company is Brian Hamilton.
This company was founded in early 2017. And since than company is promoting or in testing mode with small businessmen. As big banks are seekin to court millennials as their next generation of customers, with products such as app-based accounts. This may help the company to expand its retail presence in the United States where it operates through its subsidiary BBVA Compass.
Hamilton the CEO of company said,”Azlo will target “gig company” freelances and self -employed workers, a segment which has been overlooked by traditional banks but is expected to grow.” Hamilton again said,”we are targeting an undeserved segment. If you walk into a bank and try to open a business account it is still pretty wonky and not easy.”
But now through this startup customers can open his account online and it will be more easy to open account online. For business man it will be easy to send invoices to clients and request payments. The terms and conditions of the company are still not open for people.