Adro: Providing International Students with Easier Access to US Banking

“International students moving to the United States are some of the most vetted people on earth, but the information they give and the process they go through to approve their visas doesn’t do anything to help them once they arrive.”

This realization first came to Amarildo Gjondrekaj, the CEO of Adro, when he was lecturing at Cornell. He called it the “information asymmetry problem.” He saw the frustration international students feel when, after arriving in the United States without a Social Security number or credit history, they experience difficulties trying to open a bank account. 

The same information they put on forms they used to get here wasn’t available to the banks, technology companies, or people who could help them set up their new lives. This often means in-person appointments to set up accounts, taking hours or days rather than minutes online. It also means duplicative time, effort, and energy during an already stressful and busy transition. 

Working with two other co-founders, Sara Schmitt and Kevin DeArmond, the team founded Adro on the idea that international students and workers should be able to open and fund a U.S. bank account before they arrive. Then, upon arrival, they can easily receive a debit or credit card and begin spending in U.S. dollars on day one. 

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Creating a More Seamless Financial Experience for International Students

Adro’s platform provides an easier way for international students and workers to access the financial services they need to manage and spend money in the US. 

The first step of this journey is the onboarding and account opening process. Adro allows their customers to open an account before they move to the US by providing their passport, selfie, address, and other key information necessary to verify their identity. 

Once onboarded, they’re able to fund the account prior to arriving in the US. From the moment they arrive in the US, they can request a virtual card and add it to Apple Pay and Google Pay. This gives their customers the peace of mind that they’ll have access to funds and be able to make purchases in US dollars as soon as they get to their new home. Adro also helps by generating an on-demand proof of funds letter, which is required for some US visa applications. 

Customers are also able to receive a physical debit or credit card sent to their US address, enabling them to withdraw cash from ATMs and spend anywhere cards are accepted.

This can all be done without fees, securely, and the Adro credit card even comes with benefits such as 1% cash back on qualifying purchases and the ability to start building US credit from day one.

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Getting to (the International) Market

After over 200 interviews with international students and workers, Adro’s founders knew they had a product that solved numerous problems for newcomers to the US. 

But to bring their model to life, they needed the tech stack and regulatory expertise necessary to build, launch, and scale their new banking and payments solution. 

That led Adro to Synctera. The Synctera Platform equipped Adro with all of the compliance, banking, and payments infrastructure needed to build a scalable and compliant product. Additionally, using the Synctera Console Adro’s team can efficiently manage compliance and operations workflows, while maintaining complete visibility into all of their program’s data. 

“From the time we signed our contract with Synctera to having our first cards in hand was less than 90 days,” says Sara Schmitt, Chief Operations Officer of Adro. “We moved fast, but we also knew we had to do our research, look for gaps, and make sure everything was built thoughtfully. Synctera’s compliance expertise was a huge asset in ensuring we built things right the first time.”

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The Future for Adro

Since launching, Adro has been learning more about the specific experiences of international students and workers, how they can support them, and their unique combination of needs. 

“In today’s world, it’s important that our support tools are flexible and allow for customization to all of the different possible scenarios our customers experience,” says Amarildo.

Today, Adro has users across 300+ colleges and universities in the United States, as well as more than 20 business partners and 30 university partners that actively share Adro with their students. While they continue to focus on international students, they are expanding to other segments that incorporate more newcomers to the US.

“Our product roadmap is heavily guided by the feedback we receive from our users,” says Amarildo. “We’re not 100 percent sure what’s next, but we’re excited about it!”