California-based digital banking startup One makes debut

One, founded by former executives of PayPal and Capital One. One, built to meet consumer needs today, especially for middle-income Americans.

San Francisco-based digital banking startup One, created by the founding CEO of PayPal Bill Harris and a former Capital One executive Brian Hamilton. One's digital banking service redesigns banking for modern life and combine saving, spending, borrowing and sharing in one account.

One, combines the technology and convenience of a digital bank with a full-suite of products that traditional banks offer. One was built to meet consumer needs today, especially for middle-income Americans.

According to a new online survey commissioned by One and conducted by The Harris Poll, more than three in five (62%) Americans say traditional banks do not offer middle-income consumers the same quality of customer service as they do the wealthy. And nearly four in five (79%) Americans feel that the wealthy have access to more programs/offerings from traditional banks than middle-income consumers.

Brian Hamilton, CEO and co-founder of One:

The traditional financial system hasn't caught up to the realities of how people live today. In many middle-income families, couples are choosing not to merge finances, siblings are pooling money to care for aging parents, former spouses are co-parenting, and the list goes on. Consumers have to stay on top of multiple banking and credit accounts, creating a lot of anxiety. We knew there could be a better way to bank, which is why we created One—banking that supports you and simplifies your finances, alleviating some of the stress that the fractured financial products market has forced upon us.

One has redesigned the key fundamentals of banking, with an innovative approach designed for real life and real people. It's the first digital banking service to seamlessly combine saving, spending, sharing and borrowing into one account, with one card.

One made a deal with Mastercard and every One account comes with a Mastercard Debit card that can also connect to your mobile wallet, also customers can use their One card as a credit card. All cards also work with Mastercard contactless payment technology.

In my opinion, One managed to differentiate on customer support part. Because One doesn't automate customer support like other digital banking services offer. One customers can schedule a call at their convenience time with One's Customer Experience team.

Lastly, we have to take note that has raised $17 million in Series A financing from Foundation Capital, Core Innovation Capital and Obvious Ventures back in March 2020.

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