Neobank Zolve offers immigrant customers mobile plans

Neobank Zolve offers immigrant customers mobile plans

Zolve, a neobank for immigrants to the US, has teamed up with telecom-as-a-service platform Gigs to launch its own branded mobile phone plan service.

The Zolve app already offers new arrivals to the US a FDIC-insured bank account, and a high-limit credit card.

Now, customers can also activate their phone plan in the Zolve app with just a few taps - bypassing the bureaucracy of providing an address, credit card, and social security number that often faces new arrivals.

The firm says that by bundling financial services with a phone plan, it provides expats with two essential needs from one and the same app, ensuring a smooth start to life in the US.

The company claims it is the world's first fintech to introduce its own mobile virtual operating network, helping it boost customer engagement and loyalty while generating recurring revenue.

The deal comes shortly after Gigs hired Stripe and Nubank veteran Rafael Plantier as head of financial services to win business from fintechs.

Raghunandan G, CEO, Zolve, says: "For expats seeking access to financial services or a SIM card in the US, the process has traditionally been time-consuming, complicated, and overwhelming.

"However, by enriching our suite of financial products with our own phone plan, we can significantly simplify the lives of the international community and transform the Zolve app into a launch pad for global ambitions."

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