BankApply helps businesses and individuals to open a bank account in Europe by matching the client profile with suitable banks.
We increase the chances of getting a bank account in Europe by approaching the right banks, and we save time for applicants by filling and submitting the account opening applications on Client’s behalf.
Current Status
• Growth stage and working to ramp up acquisition marketing
• 6 employees in Tech, BD, Finance, Marketing and PR
• More than 1500 subscribed customers
Market
• All foreign users that want to open bank account in EU both private and business accounts
Problem or Opportunity
• Huge demand for users that want to open bank accounts in EU
• Complicated market and high commission fees
• A lot of customer frustration due to getting rejected from traditional banks
Solution (product or service)
• Focus on Matching Engine - a way to take inputs from clients and finding the best possible offers from Banks and FinTechs
• Legal service - in-house lawyers that help client with gathering document and applying to banks
Competitors
- No real competitors in the space (only smaller aggregators)
- FinTechs are in-direct competitors because they can provide services to our customers
Advantages or differentiators
- Increased approval rate vs. traditional banks
- Faster application process - takes 3 days to make decision
- Lower fees with most of our partners