Ex-LCG CEO Charles-Henri Sabet is set to launch FlowBank, a new digital bank in Switzerland, following the receipt of banking license from FINMA.
The new digital bank is headquartered in Geneva. It currently employs over 40 people, with more hires anticipated by the end of the year.
FlowBank is expected to commence operations later this year. In the next year, the bank plans to set up offices abroad and in Zurich, Switzerland.
It provides customers with access to more than 50 global financial markets and offers a multi-currency account.
It also provides basic banking services including a payment card that allows cardholders to make transactions in CHF, EUR, and USD currencies.
Sabet said: “We intend to bring a new experience by optimizing the world of online banking; finally a digital solution that allows you to invest via a single multi-currency bank account.
“We are positioning ourselves as the most reliable springboard for our private and institutional clients in their investments.
“As a result of the increasing digital acceleration, customers nowadays expect quality service more than ever. FlowBank intends to meet this need of both Swiss and international customers.”
“Our value proposition is clear: an investment experience open to everyone, thanks to a mobile app and an optimized platform to deal with all asset classes in domestic and international markets.”
Sabet, an online banking veteran, was the founder of Synthesis Bank that later merged into Saxo Bank.