Key takeaways:
- Xpats, a cross-border neobanking platform, is answering the needs of expats and global remote workers.
- Offering services such as bank accounts, credit/debit cards, housing, and health insurance, it’s all about convenience for the global remote worker.
- The future of the startup seems promising in the embedded finance industry.
In an era of increased global mobility and a surge in remote work, a new wave of startups are aiming to cater to the financial needs of expatriates and global remote workers. Among them is Xpats, a New York and Argyll-and-Bute-based startup that has developed an app-based, cross-border neobanking platform. Founded by Alexander Ferguson and Michelle Hudson, Xpats offers a consolidated source of financial and non-financial products for those living or working abroad.
The platform offers services such as bank accounts, credit and debit cards, housing, health insurance among other needs just a click away. The founding team of Xpats, who themselves have been expatriates for more than 50 years combined, have a solid background in banking, consulting and building digital products.
What sets Xpats apart from other neobanking platforms is its focus on the expatriate community. The founders have leveraged their personal experiences as expats, along with their professional expertise, to develop a product that meets the unique needs of this demographic. More than just a banking platform, Xpats aims to offer a community for expats, providing not only their financial needs but also opportunities for networking and friendships.
This focus on community reflects a broader trend in neobanking, where platforms strive to offer more than just a mechanical financial service. By offering a holistic suite of services, Xpats simplifies the often complex process of setting up finances and finding essential services when moving abroad.
Looking forward, Xpats is poised to become the go-to platform for expatriates and global remote workers. As remote work continues to be a growing trend, particularly due to the impacts of COVID-19, the demand for platforms that facilitate an easy transition to living and working abroad is only set to increase.
If you want to follow their journey, you can find them on their
Twitter,
Facebook,
LinkedIn pages. To delve deeper into what Xpats has to offer, visit their
website.
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