Digital Bank radicant Obtains Banking License from FINMA

Zurich-based digital financial services provider radicant has received a banking license from the Swiss Financial Market Supervisory Authority (FINMA).

Basellandschaftliche Kantonalbank (BLKB) in partnership with with Dr. Anders Bally, the founder of venture firm Bally Capital Partners, had launched radicant in April last year.

radicant plans to officially launch by the end of 2022 where it will be focusing on personalised and sustainable financial solutions.

"The license to launch a bank will enable us to offer a broad range of sustainable financial services from a single source,"Dr. Anders Bally, CEO and Co-Founder of radicant said."This crucial milestone takes us a big step further in achieving our vision as a true financial life companion that can not only take care of all personal finances in the longer term but also support a sustainable lifestyle based on payment and investment behavior."

Roland Kläy, radicant's CFO and Co-Founder, who is overseeing the FINMA process, said:"With the license of FINMA to operate a bank, we have achieved a significant milestone in the development of radicant. We achieved this milestone in the shortest possible time, which makes me particularly proud!"

Source: Fintechnews