One to Watch: Founders Bank
Another new challenger bank is about to – at last – make their official emergence and enter into the crypto market.
The Malta and London-based Founders Bank team have been waiting for their regulatory licence to be granted since June 2018. They have recently announced that they are now expecting to receive this EU banking authorisation in Q4 of 2019. Once licenced, the bank is set to be the first decentralised and community-owned bank in the world and helps adds to Malta’s growing reputation as a “crypto island”. Founders’, backed by major cryptocurrency exchange, Binance, will balance traditional banking with the digital economy, providing their clients with a hybrid of banking services that has been designed to a wide-range of clientele.
Founders Bank will focus on serving tech and crypto businesses and will offer a range of banking solutions including digital solutions, such as mobile and desktop web apps, bank accounts, and credit cards. Expansion plans have also been laid out by the bank in which they detail a strategy which will see them applying for, and acquiring, a number of operating licences for the main financial jurisdictions.
Already attached to the bank, Kenan Altunis, previously a Deutsche Bank alumnus, has been named as Chief Executive of Founders’ Bank. Having recently served as Global Co-Head of the Institutional Client Group at Deutsche’s corporate and investment bank, and in charge of a team of over 1000 people, Altunis is well placed to lead the new team of executives and senior bankers that are now aligned with Founders’. He is joined by a largely London-based team including Lana Burdei as Chief Operations Officer, Dearg OBartuin as Chief Technology Officer, Paula Pandolfino as Chief Strategy Officer, and Ludwig Mallia as Head of IT. Together the team will offer a wealth of global financial services experience and knowledge from across a range of sectors including banking, corporate finance, and asset management.
With the bank’s upcoming launch, we’re expecting a flurry of hiring activity as they continue their preparations with the ramping up of their operations ahead of going public.
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