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 said in a statement that it plans to officially launch by the end of 2022 where it will be focusing on personalised and sustainable financial solutions.
In order to incorporate the UN’s 17 Sustainable Development Goals (SDGs) into the company’s culture and provide the community with access to knowledge, radicant is building a SDG Competence Center with senior experts in different areas.
radicant added that its focus will be on customers with an affinity for sustainability and with liquid assets of at least CHF 100,000.
Dr. Anders Bally, CEO and Co-Founder of radicant said,
“The license to launch a bank will enable us to offer a broad range of sustainable financial services from a single source.
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!”