Azlo, a digital banking startup geared towards freelancers and the self-employed, has formally launched in the U.S., the company announced today.

The digital bank, which is backed and majority owned by Spanish bank Banco Bilbao Vizcaya Argentaria, or BBVA, will provide banking services to small businesses and other workers in the gig economy, who may have been “overlooked” by traditional banking services, Azlo said in today’s release.

Azlo’s banking services doesn’t have any fees, minimum balances, or “confusing conditions,” the company stated.

In its release, Azlo noted, there are 44 million people in the U.S. who currently have a “side-gig,” and it is expected that by 2020, 43% of the U.S. population will be freelancers. Azlo is hoping to be the service that will fill the banking needs of those entrepreneurs.

Ramona Ortega, Azlo’s “Entrepreneur-in-Residence,” said in today’s release:

What distinguishes Azlo is its focus on the new economy, including millennials and underrepresented entrepreneurs, and creating a deep and valuable relationship with its customers through community engagement.

Read more at PRNewswire and Reuters.

To learn more about digital banking and the gig economy, join us on March 5-6, 2018 at the Parc 55 in San Francisco for Bank Innovation 2018. Click here to register.