At Greelow, we thrive on turning visionary concepts into reality. When a forward-thinking client approached us with a bold idea to revolutionize NeoBanking, we embraced the challenge wholeheartedly. The client envisioned two distinct models – one catering to individuals from country XXX seeking American bank accounts and another tailored exclusively for the dynamic financial landscape of New York.

The initial challenge was daunting. The traditional route of establishing a fully licensed bank proved to be an intricate, bureaucratic, and costly endeavor. Recognizing the need for a more agile solution, we delved into extensive research to identify a pathway that would provide the desired flexibility to create bank accounts, facilitate transfers, and manage finances efficiently.

Our journey led us through a meticulous evaluation of various alternatives, with a keen focus on reliability and functionality. While some platforms explored the possibilities of cryptocurrency, they fell short of meeting the desired standards and functionalities. It was at this juncture that we discovered Prime Trust, a platform renowned for its robustness and comprehensive capabilities.

The solution involved crafting a sophisticated backend using Node.js, complemented by a user-friendly mobile app built with React Native. This dynamic application empowered users to seamlessly create US-based accounts, conduct transfers, apply for microloans, and invest in assets – all within a secure and compliant framework. Our team of seven dedicated individuals undertook the comprehensive development process, ensuring every aspect adhered to the highest standards of security and compliance.

The impact was nothing short of groundbreaking. The service we introduced was unprecedented, leading to rapid growth with over 700 accounts in the initial months and deposits exceeding $3 million. The New York-based model also achieved significant milestones, incorporating around 130 accounts.

In mid-2023, the journey faced an unexpected turn as Prime Trust discontinued its services due to technical and licensing issues, particularly concerning asset and cryptocurrency management. While this setback temporarily halted the project, we view it as an opportunity to reassess and explore new alternatives.

As we navigate the challenges posed by this unexpected turn of events, we are steadfast in our commitment to delivering innovative financial solutions. The collaboration with Prime Trust allowed us to pioneer a revolutionary NeoBanking service, setting new standards in the industry. As we regroup and explore new partnerships, our focus remains on transcending traditional boundaries and continuing our mission to transform the financial landscape.