Vance

Vance, is a fintech startup redefining global banking for Non-Resident Indians (NRIs) and global citizens. Positioned as an internet-first bank, Vance offers seamless international banking solutions tailored to the needs of individuals managing finances across borders. The company’s mission is to create a unified, borderless banking experience by integrating global banking infrastructures into a single platform. At Vance, we’re building technology that connects banking infrastructures across the globe so you get a unified, smooth & trusted banking experience no matter what part of world you’re in

Core Products and Services

• Global Banking Account: A single account to manage finances across multiple countries.

• International Payments: Enables cross-border transactions at live Google exchange rates without hidden fees.

• Credit Access in New Countries: Facilitates access to credit products in foreign markets.

• Investment Solutions: Allows users to invest in global stocks and other assets.

• Local Payment Rail Integration: Supports local payment systems like UPI in India and direct debit in the U.S.

Unique Value Proposition: Vance differentiates itself by offering a "borderless banking account" that integrates local payment systems worldwide, enabling users to transact seamlessly across countries. Unlike traditional multi-currency wallets, Vance allows NRIs and global citizens to use native payment rails, ensuring a localized yet unified experience.

Business Model & Revenue Streams

Vance operates on a diversified revenue model that combines transaction fees, subscription plans, and partnerships with financial institutions. This approach ensures scalability while catering to both individual users and institutional clients.

Primary Revenue Sources

1. Transaction Fees:

• Revenue generated from cross-border payments and currency conversions processed through the platform.

2. Subscription Plans:

• Premium features such as access to credit facilities in foreign countries and advanced investment tools are available through subscription tiers.

3. Partnerships with Financial Institutions:

• Vance collaborates with banks and payment networks globally, earning revenue through referral fees and co-branded financial products.

4. Investment Management Fees:

• Charges for facilitating investments in global stocks and other financial instruments.

Customer Segmentation

• B2C (NRIs and Global Citizens): Individuals managing finances across borders who need seamless banking solutions.

• B2B (Financial Institutions): Banks and fintech companies leveraging Vance’s infrastructure for cross-border transactions and localized payment integrations.

Growth Strategy

1. Market Expansion:

• Focused on entering new geographies such as Europe, Southeast Asia, and North America while deepening its presence in existing markets like India and the UAE.

2. Product Innovation:

• Developing new features like remittance services, savings accounts, and advanced investment tools tailored for NRIs.

3. Strategic Partnerships:

• Collaborating with global financial institutions to enhance service offerings and expand user reach.

4. Team Expansion:

• Scaling its team from 10 employees at inception to over 30 members within the first year of operations.

5. Technology Integration:

• Leveraging advanced fintech tools to provide real-time currency conversion rates and localized payment processing.