Saturday, January 18, 2020

Not Just Another Monzo: EQIBank is the Next Generation of Digital Banking

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Masozi Appleton
After studying finance in the US, I went on to a career in traditional finance. My interest in fintech, and crypto in particular, as led me to become involved in reading and writing about it as much as possible. I'm excited to see where it will go over the coming years.

Digital banking is evolving at a rapid rate and the emergence of new tech startups no longer represents online services that simply complement your traditional bank account. With improvements in financial technology, some of the more impressive new online banks are now in a position to replace traditional banks entirely.

Many of the world’s largest financial institutions initially ignored the threat posed by fintech startups in the early days of digital banking. For years, none of these new players could match the services on offer by wealthy, established institutions that enjoyed a global network of partnerships and an army of staff. Nowadays, however, technology has replaced the need for a large body of staff and removed the need for strategic partnerships formed in multiple countries. The marriage of finance and technology means the old-school can no longer hide behind money and status: young professionals now desire a bank that can meet the demands of the fast-paced, modern world of international business.

While there is much on offer from the slew of digital banks that have popped up over the past decade, few can truly match the full range of services that traditional banks supply. Customers who are keen to take full advantage of the benefits provided by digital banks and ensure that they are putting ALL their money to the best possible use can do so with EQIBank – an online bank with a difference. Those who have grown unsatisfied with the low-interest rates, limited functionality, or lack of customer service provided by most small-scale digital banks like Monzo or N26 will be pleasantly surprised with what’s on offer at EQIBank.

With a focus on high-quality banking solutions designed to suit the needs of corporate and private customers alike, EQIBank will soon help you to forget that you ever had a traditional, brick-and-mortar bank. With a tax-free, offshore base in Dominica and 24/7 availability to 180 countries worldwide, EQIBank delivers world-class financial services to a wide range of big businesses and high-net-worth individuals.

Fast, functional, offshore banking

The offshore banking market is estimated to be worth US$32 trillion, and as the first regulated and licensed offshore digital bank, EQIBank is perfectly poised to fill a much-needed position in this sector. The modern financial world is in a state of flux, as traditional systems fail to meet the needs of international businesses that require fast transfers and 24/7 service. Modern digital banks are working to fulfill this need but many are limited by jurisdictions and regulations. EQIBank is one of the first digital banks to overcome these obstacles and offer banking solutions that are equivalent to those provided by many of the biggest financial institutions.

Some of EQIBank’s many benefits include digital asset support, physical Mastercard debit cards, 24-hour online banking, financing, business loans, and trading services. Customers can conduct their business in over 100 major currencies and utilize innovative systems like RippleNet to send near-instant cash transfers to 180 countries worldwide. Additionally, EQIBank benefits from asset custody provided by one of the worlds leading custodial solutions providers, Kingdom Trust. The strategic relationship formed with the Lloyd’s of London-backed insurer means EQIBank can protect its clients’ digital assets to the tune of $50 million.

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