Arro offers instant online accounts for those looking for an alternative to the High-Street Bank

Global Processing Services (GPS) is pleased to announce its agreement with new client Marq Millions as they launch their flagship product Arro Money. Arro has already successfully launched their Personal Accounts to the public. Now they will be officially launching Business Accounts at PayExpo in October where it will feature in the GPS sponsored The PayTechPavillion, a showcase of the most innovative payment solutions currently enabled by GPS technology.

Arro Money Business Accounts (powered by Marq Millions) offers private limited companies, sole traders, partnerships, shared ownership and in the UK using a best in class real time customer account on-boarding system. Sign up is simple, easy and does not require you to upload documents, more importantly it does not require a credit check. This is thanks to the ‘invisible banking’ innovation that involves Artificial Intelligence (AI), resulting in an application that can be completed in just three minutes, next generation e-KYC and real-time account generation, which simplifies this usually arduous and manual process.

It can typically take days or even weeks to open a business account using traditional banks which can stifle growth for new businesses who are ready to start operating. The AI powering the Arro Money Business Account has reduced the time to complete the account opening process to just three minutes enabling SMBs to trade straight away.

Commercial customers can also benefit from additional services such as 24/7 telephone and internet banking, help control their cash flow and expenses with the Online Account Dashboard. Arro have also committed to incorporating additional functionality in 2018 including a business toolbox, Business calculators to aid expense reporting and end of year statements.

Asim Muhammad, Director Marq Millions Ltd commented: “The decision to engage GPS was an obvious one in light of their track record of delivering pioneering technological solutions to fintechs and market disrupters such as Arro Money. They understand the need to deliver innovative solutions in a way that traditional banks do not currently deliver. We are looking forward to GPS supporting Arro as we expand our offering into International markets where we will be offering similar benefits of rapid sign ups without the need to perform detailed credit checks.”

Neil Harris, Chief Commercial Officer, GPS, said; “Arro is a strong brand within the emergent financial disrupter space, which is a real speciality for GPS. Cutting-edge businesses need innovative payment solutions such as Arro, enabled with dynamic KYC, to provide business accounts that can be simply deployed and deliver results that can truly address the needs to support financial inclusion. We are delighted to be supporting Arro and celebrating its launch with us at the GPS PayTech Pavilion during PayExpo in October.”