Zenus Bank announces it has received a permit to commence banking operations and launches Zenus.com with an integrated digital strategy.
The startup digital bank achieved this crucial milestone in line with their roadmap expecting to begin on-boarding clients later this year. The timely nod of approval from regulators goes to further confirm the breadth and depth of experience of the management team that Fintech entrepreneur Mushegh Tovmasyan has assembled for his latest venture. “We are solving a key financial inclusion challenge by enabling remote access to best in class global banking products and services for people around the world,” said Mushegh Tovmasyan, Chairman & Founder.
Since the launch of the Zenus.com website a little more than a month ago, Zenus Bank has received thousands of signups to its waiting list by interested clients from 118 different countries. “These sign-ups are coming predominantly by word of mouth as there has not yet been any marketing effort by the Bank while we focus on the build-out of our infrastructure and technologies,” added Weiyee In, Chief Strategy Officer for Zenus Bank.
Future clients of Zenus Bank shall enjoy the convenience of remote account opening of multi-currency accounts either through Zenus.com or the Zenus mobile app attached to a debit card which can be used to access their funds safely held in the US based bank.
“Being first to market and innovating within the banking space comes with plenty of challenges – so Zenus Bank has been investing heavily to integrate a unique combination of technologies from leading vendors to achieve our mission,” added Mr. Tovmasyan.
The global financial services industry has witnessed more disruption from regulatory changes as well as technological innovations that are causing paradigm shifts in the global market structures as well as the broader economy. Being a digital bank is not a matter of re-inventing an existing banking platform to be digitally better but to drive economic and business models that deliver growth through integrating unique technology solutions globally for a competitive advantage.
“Being a first mover challenger bank, Zenus embraces initiatives such as open banking as a strategy, leveraging open APIs allowing us to integrate third-party developer solutions across our financial institution while offering far greater operational and financial transparency for our clients and investors,” added Mr. In.