A Swiss pioneer in online banking will have another go. He is about to launch a digital financial company, which he promises will provide a unique trading experience.
Charles-Henri Sabet will launch the FlowBank in the coming months, according to a statement released on Tuesday. FlowBank is a new digital Swiss bank.
Sabet, a Swiss citizen of Egyptian and Lebanese descent, is a pioneer in online banking, having found the Synthesis Bank in Geneva in 1991. Saxo Bank took over at Synthesis in 2007 and turned it into Saxo Bank Switzerland. Sabet later was active in forex trading and had a stake in the Cypriot broker named Jiffix Markets.
Bank License Ready
Now, Sabet will have another go and harbors grand plans. He promises a sophisticated online platform that will give investors a unique trading experience. The digital solution will allow clients to invest in several currencies from a single account.
The bank already disposes of a license and employs a staff of 40 based in Geneva. Sabet plans to hire even more staff in the remainder of this year.
Expansion Planned
Flowbank will also open branches starting in 2021, not least in the major financial hub of Switzerland, Zurich. A further step will include the expansion abroad, says Sabet, adding that he aims to position the firm as competent provider of financial assets both to private and institutional clients.
Flowbank’s business is fully based in Switzerland and is regulated by Finma. The bank also has the required deposit protection for its clients.
The bank will provide support from research teams, with financial experts helping clients detect opportunities and trends on the financial market.
