Apiture and ALTA Banking Services announce the launch of ALTA’s new banking platform and the ALTA Prepaid Mastercard®, using the Apiture Xpress digital banking platform to reach an underserved market of banking customers.
Apiture and ALTA Banking Services announce the launch of ALTA’s new banking platform and the ALTA Prepaid Mastercard®, using the Apiture Xpress digital banking platform to reach an underserved market of banking customers.
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ALTA is on a mission to make banking services available to everyone by offering Apiture’s online and mobile solutions to consumers who traditionally may not qualify for a bank account. ALTA co-founder, Jack Fargen said “We started ALTA to address the needs of an underserved market. There are millions of Americans who have situations that make opening a bank account a difficult or impossible task. We believe that every person should have the tools to access, save, and manage their money, so we decided to partner with Apiture to create our first banking service for this under-banked community.”
It was reported that 25% of U.S. Households are un-banked or under-banked (CNBC). More than half of the unbanked households reported that their primary reason for not having a primary bank was that they didn’t have enough money to open one. ALTA has launched a banking services offering that doesn’t require minimums and has no fees for direct deposit customers. That means that for no cost, customers can open a new account and have access to the online and mobile channels that allow them to manage their money.
“Partnering with Apiture to provide the digital solutions for ALTA was an important decision. ALTA’s service model is different and more complex than a traditional bank, so we needed a digital banking partner, not just a provider. Apiture checked all the boxes and has allowed us to offer leading online and mobile banking solutions for our customers,” Fargen said.
ALTA is using the Apiture Xpress online and mobile banking solutions, offering features like mobile check deposit, spendable balance, and My Spending personal financial management tools to their consumers.
Apiture chief operating officer, Chris Cox, said, “When ALTA approached us to be their digital banking partner, we were thrilled to join them on their journey. Our goal is to provide best-in-class solutions to ensure our clients can meet the specific needs of their customers in today’s digital world. Apiture is excited to be a part of ALTA’s launch, and we look forward to continuing to partner together as they execute on their mission to expand access to financial services.”
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