The launch of Avant Banking further expands the firm’s financial product portfolio of personal loans, credit cards and auto refinance. This announcement has come after the Fintech platform’s acquisition of Zero Financial, Inc. and its virtual banking app, Level, in April of this year.
Available now, Avant Banking provides access to spending accounts, debit cards, ACH transfers2, and, for those with direct deposits, access to payday funds up to 2 days early.
After making a deposit, clients are issued a virtual card that may be added right away to Apple Wallet or Google Pay.
Furthering the company’s goal to offer services to financially underbanked consumers, Avant Banking was established with a transparent fee structure, which means that there are no monthly or hidden charges, like maintenance / foreign transaction fees.
Clients also get fraud protection and are not financially obligated if their card gets compromised (terms may apply) and no minimum balance is needed.
Matt Bochenek, CEO of Avant, stated:
“Every consumer deserves access to innovative financial solutions to simplify and improve their financial journey. We are excited to expand our growing portfolio of financial products created to empower our customers to move their financial lives forward.”
Avant’s management notes that they are dedicated to “building premier digital banking solutions for the middle class through a combination of technology, analytics and superior customer service.”
Since 2012, Avant has “connected over 1.5 million customers to over $7.5 billion in loans and 700,000 credit cards.”
A high growth financial technology company, Avant has raised more than $600 million of equity capital.
Avant also mentions that the financial marketplace “continues to evolve every day as Americans demand better, smarter products that help them get ahead in life.”
Avant confirmed that they have expanded their product suite “with the release of the Avant Auto Refinancing product and a Mobile Deposits product is on the way—and what comes next all depends on what we put our minds to, together.”