The next generation of UK Neobanks, Finndon, has announced an initial £2 million investment committed by its founders, to embed robust and secure infrastructure while undergoing activities towards securing authorisation by the Financial Conduct Authority.
The initial investment of £2million has enabled Finndon to already establish strong strategic partnerships with Modulr, Global Payment Services (GPS), Allpay Cards and Transaction Payments LTD. Furthermore, the founders have been able to handpick a highly skilled, experienced and diverse team to support utilising the latest technologies in building client facing platforms and an agile internal infrastructure.
Finndon targets to become the number 1 Neobank in the UK by 2025. Launching in Q1 of 2021, the Neobank will level the playing field, giving everyone a fair chance at progressing their financial future, regardless of their background and financial education.
Understanding the frustrations felt by customers with traditional banks, Finndon will introduce products yet to be provided by a Neobank and disrupt the industry by returning the supportive culture that was once provided to our Grandparents. They will demystify products that the everyday person should feel confident to take advantage of.
Embedding infrastructure on latest technology and being privately financed, provides an agile organisation to adapt quickly to economic changes, operate on lower costs and provide more affordable products to its customer base. In a drive to provide greater transparency, it will not leave the customer out in the dark like traditional financial institutions.
Finndon simplifies finance and offers customers on launch a seamless banking experience where they can spend, save and invest. Putting the power back into the hands of the customer, Finndon helps customers to learn how to benefit from their money and use suitable financial products to their advantage.
Founder & CEO of Finndon, Aaron Archer, commented: “Our drive is to help the everyday person understand and manage their money more effectively. By offering products that are beneficial and easy to figure out, whilst grasping the knowledge on how to avoid common pitfalls that can make it difficult to get financial security.
Banks frequently bamboozle customers and hide behind complex financial jargon leaving many of the population disadvantaged in their financial decisions. We are not educated in school about how to manage our personal credit ratings or the effects of inflation, as well as many other financial aspects which trip us up. This was a sharp learning curve when taking responsibility for my own finances at a younger age. It left me feeling as if banks were taking advantage of my lack of knowledge at the time.”
Now a serial entrepreneur, Archer has successfully overcome these challenges that many of us face, having launched profitable businesses within the sales, marketing and property industries.
Archer adds: “This is why I founded Finndon. To be able to help and educate customers into how they can make their money work more effectively, giving them opportunity to get on the property ladder sooner.”
Through clarifying financial jargon into easy to understand language, Finndon offers products that customers can relate with. Supporting the further education of its customers, Finndon will alleviate the stress and worry that can come from not understanding how to make your money work more productively. Finndon gives customers the opportunity to take responsibility for their finances offering simple advice that empowers customers rather than leaving them disheartened and confused.