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Leading digital platform providing mobile banking and international services committed to increasing financial inclusion for newcomers, expats, immigrants and international students in the US

Miami, FL (November 18, 2024) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks offering embedded finance, today announced the addition of MAJORITY as its newest member. Founded in Stockholm, Sweden and Miami, Florida in 2019, MAJORITY is the leading digital financial services company dedicated to serving the foreign-born population in the United States. MAJORITY’s focus on helping internationals in the US gain access to US banking services—which includes newcomers, expats, immigrants and international students—reflects AFC’s mission to support responsible innovation and promote a more inclusive financial system.

“MAJORITY is the country’s leading provider of digital financial services to expatriate and immigrant communities, providing valuable resources to help these consumers access critical resources for financial security and stability,” said Phil Goldfeder, Chief Executive Officer of AFC. “This work helps ensure everyone in the U.S. has equitable access to financial resources, and it aligns perfectly with AFC’s mission to make our industry work better for underserved communities. We are proud to welcome MAJORITY to AFC today and look forward to partnering with them to make an even bigger impact moving forward.”

MAJORITY offers a platform for people who come from another country to live in the US, providing resources that include a Majority account and Visa® debit card, local community store discounts, low cost international calling and international money transfers with competitive exchange rates and no hidden fees.

“Since its founding, MAJORITY has focused on increasing access and lowering costs within the financial services industry to better serve foreign-born communities in America and help people integrate faster into the US economy,” said Magnus Larsson, Chief Executive Officer and Co-Founder of MAJORITY. “We’re thrilled to join together with like-minded institutions through the AFC to advocate for greater access to banking for all underserved communities and increase the reach of our vision for the future of financial services.”

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative banks offering embedded finance solutions. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

About MAJORITY

Founded in 2019, MAJORITY is the leading digital platform with mobile banking services, international calling and remittances services and more dedicated to serving internationals (newcomers, expats, immigrants and international students) living in the US. For $5.99 per month, MAJORITY members in the US receive an FDIC-insured account through Axiom Bank, N.A., a Visa® debit card, use of more than 55,000 ATMs across North America, remittance and international calling, in-person native language advisors, and access to a network of community meet-up spaces, local discounts, and events. With MAJORITY, there are no overdraft fees or minimum balance requirements. MAJORITY was started by a diverse team of banking, fintech, payments and telecom executives who have been serving expatriate communities globally for the last 15+ years. Banking services provided by Axiom Bank, NA, Member FDIC. The Visa® debit card is issued by Axiom Bank, pursuant to a license from Visa U.S.A. Inc.

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