Neobank radicant receives banking license from FINMA

Thursday 12 May 2022 12:10 CET | News

Switzerland-based neobank radicant has received a banking license from the Swiss Financial Market Supervisory Authority (FINMA).

The green fintech is a subsidiary of the Basellandschaftliche Kantonalbank (BLKB). BLKB has so far invested around CHF 50 million in the startup. radicant relies on sustainability and is committed to working with customers to help achieve the 17 UN Sustainable Development Goals by 2030. FINMA has given the go-ahead for the neobank with the bank license it has just issued as a universal bank.

With the banking license, radicant will be able to offer integrated and personalised banking products, financial planning, asset management, and other financial services as a digital bank. The focus is on sustainability-oriented customers who have liquid assets of at least CHF 100,000. According to a BLKB representative, the market entry of its sustainable subsidiary is planned for the end of 2022. 

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Keywords: banking license, banking, banks, neobanks, financial services, digital assets
Categories: Banking & Fintech
Companies: radicant
Countries: Switzerland
This article is part of category

Banking & Fintech


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