Open accounts in minutes, manage everyday banking needs without fees, safeguard cash, maximize yield, and access capital—all in one platform in partnership with trusted banks. [Arc is a technology company, not a bank: arc.tech/general-disclosures]
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Super exciting! Whether you're a novice founder with no financial background or a seasoned one with an internal finance function, Arc makes it effortless to manage your cash and maximize returns. It simplifies cash management for everyone.
@timcha Thanks! And that's exactly right - a good portion of our users are early-stage startups, who like the streamlined UI / tech-first aspect of our platform.
@casimira_aluwihare_karunaratne Great question. Deposit protection has been a key focus area, especially in recent months following the regional bank disruption. Given we're a financial technology company and not a bank, we have the opportunity to offer customers several options - even spanning financial institutions - to gain comfort depending on product feature, yield, and liquidity preferences. To name a couple examples: (1) receive $5M FDIC insurance on deposits through BNY Pershing's yield-bearing insured bank sweep, which automatically sweeps deposits across a network of dozens of FDIC-insured banks including JPMorgan Chase, Goldman Sachs, and Citibank; (2) invest idle cash in short-duration Treasury Bills, which earn 5%+ today and are backed by the full faith and credit of the U.S. government.
(Disclosures: https://www.arc.tech/general-dis...)
@davj as an active Arc customer, do you find the Capital or Banking product to be more useful to Fondo? Any feedback on either product? We live to serve & I am humbled to work with such a great company like yours 🚀
@don_muir thank you Don! I find both super useful. I love how easy Arc is to get started and to use. The user experience, design, and customer support is top notch!
@davj that’s great to hear. Just wait until we push V2 to your Arc Account in Q3 👀
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Arc is a fantastic one-stop solution for startups' cash management and financing needs. Founders are always looking for ways to work 'smarter, not harder' - Arc's products and elegant UI make it the obvious financial partner for startups looking to make the most of their time and finances. Congrats on the launch Arc Team!
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