Alma
Alma, formerly known as Alma Financial and Derisk, is a fintech company based in the United States with offices in Seattle, WA, and Palo Alto, CA, offering innovative consumer finance solutions through its mobile wallet service.
History
Alma, formerly known as Alma Financial and Derisk, is part of the fintech industry with a specific focus on consumer finance. A graduate of the Y-Combinator S22 batch, Alma has established its presence with offices in Seattle, WA, and Palo Alto, CA, while also offering remote working options. The company's rebranding journey reflects its evolving business model and expanding service offerings in the fintech landscape.
Locations
Alma operates from multiple locations in the United States, with physical offices in Seattle, WA, and Palo Alto, CA. Additionally, Alma accommodates a remote workforce, making its services accessible to both remote employees and customers across America and Canada. This flexibility aligns with the company's commitment to broad regional access and operational adaptability.
Mobile Wallet Services
Alma offers a mobile wallet service that enables users to add an Alma virtual debit card to popular mobile wallets like Apple Pay and Google Pay. To access this service, users must complete the Know Your Customer (KYC) process and obtain an Alma checking account and virtual debit card. Transactions with the virtual debit card via a mobile wallet adhere to the terms of the Alma checking account. Alma ensures security through measures such as passcodes, PINs, and biometric authentication. Users are also protected under Mastercard's Zero Liability Protection against unauthorized purchases.
Gamified Banking Experience
Alma provides a unique gamified mobile banking experience, including a weekly drawing on Wednesdays where users have the chance to win $1 million. This drawing is conducted through a double-blind process by a third party with an insurance company to ensure fairness. This feature adds an engaging element to Alma's banking services, enhancing user interaction and experience.
Customer Support and Security
Alma's customer experience is structured to be fully bilingual, offering online support in both English and Spanish. The company's deposits are secure, protected by Bangor Savings Bank, Member FDIC, offering coverage up to $250,000. Alma employs dual-factor authentication, including options such as FaceID and TouchID, to enhance cybersecurity. Revenue is generated through debit card interchange fees and interest on saved funds, keeping the service fee-free for its customers.