Switzerland-based neo banking firm radicant has secured a bank licence from the Swiss Financial Market Supervisory Authority FINMA.
radicant plans to enter the market at the end of 2022, with focus on offering sustainable products.
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FINMA’s authorisation will allow the digital bank to offer a range of financial services such as integrated and personalised banking products, asset management and financial planning tools among others.
radicant describes itself as a digital, collaborative and sustainable financial service provider, which is aligned with UNO’s 17 Sustainable Development Goals (SDGs).
To incorporate SDGs into the bank’s culture and make knowledge accessible to the community, radicant is also setting up an SDG Competence Centre with experts.
Basellandschaftliche Kantonalbank (BLKB) founded radicant in April 2021, in collaboration with Bally Capital Partners founder Anders Bally.
Bally said: “The licence 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 long term but also support a sustainable lifestyle based on payment and investment behaviour.”
radicant CFO and co-founder Roland Kläy said: “With the FINMA licence for a bank, we have reached an important milestone in the development of radicant. We achieved this milestone in the shortest possible time, which makes me particularly proud!”
