Arc Platinum went live!
Arc Platinum is currently available by invitation only. Arc is a financial technology company, not a bank or an investment advisor. To ascertain your eligibility, request an invitation. With Arc, protect your cash at diverse financial partners, pay less fees and maximize yield, save time with dedicated service, and tap into exclusive founder benefits. Arc Platinum’s monthly minimum is $249. Startups get 50% off when they use their Operating account to fund payroll through payroll partners.
The Platinum Difference
Arc diversifies startup deposits with up to 100% coverage across multiple FDIC, SIPC and government-backed accounts, while allowing companies to earn up to 5.20% APY. Coverage includes $250K FDIC insurance on checking and savings accounts, $500K SIPC insurance on Money Market Funds & & $5M FDIC Insurance with BNY Mellon Pershing.
Business banking, like other financial services, has historically been a commoditized financial product. Participants offered the same underlying products and services, competing primarily on price and brand rather than real innovation.
Read the latest article: 10 Best Applications Of AI In Banking
The result: a hodgepodge of opaque and confusing cash management products that are hard to tell apart from one another. Arc Platinum is the first premium cash management experience for startups. It’s the only experience that’s truly differentiated from anything else in the market – from traditional banks to fintechs.
Plans
Unlike competing banks or fintechs, Arc Platinum isn’t priced based on a company’s assets, but rather with a flat and transparent monthly fee. Starting at just $249 per month, Arc Platinum provides on average $50,000 per year in incremental savings for the average Series.
A startup compared to their traditional banking stack. Startups receive complimentary access to Arc Platinum for three months when they sign up before September 30, 2023, and receive 50% off the monthly membership thereafter when they use their Arc account to fund their company’s payroll expenses.
Read: Top 10 Fintech CEO Watchlist
Outstanding features
- Exclusive health & wellness benefits with monthly reimbursements (e.g., Equinox)
- Discounted access to venture debt, revenue financing, and working capital lines
- Early access to Arc’s intelligence tools designed to automate your banking experience
- Yield-bearing accounts built on diverse financial partners
- Treasury management with zero Arc fees to maximize yield (up to 5.5% net APY today)
- Dedicated support complete with onboarding assistance and data-driven financial insights.
Read: AI Dynamics In Financial Services- WEF
Unfortunately for customers (specifically, funded startups), all of that complexity has made selecting the right bank harder than it needs to be. At the end of the day, founders and finance teams just want to know that their money is safe, liquid, and earning a competitive yield.
With Arc Platinum, founders no longer need to choose between safety, liquidity, and returns — they can have it all.
[To share your insights with us, please write to sghosh@martechseries.com]
