The digital financial services provider of a Swiss Cantonal bank aligned with UN sustainability goals just got its banking license.
Around this time last year, one of Switzerland's Cantonal banks, the Basellandschaftliche Kantonalbank (BLKB), founded a Zurich-based subsidiary called Radicant, providing personalized digital financial services and advice, based on sustainable financial solutions.
It has now cleared an important hurdle on the way to entering the market, receiving its license as a universal bank from the Swiss Financial Market Supervisory Authority (Finma), BLKB announced on Thursday (in German).
While awaiting approval of its license, Radicant was not idle, having partnered with German software consultancy Aixigo to use Aixigo's cloud-based platform for portfolio management, investment advice, and portfolio analysis via digital interfaces (API), as finews.com reported in March.
UN Sustainability Goals
Radicant, a purely digital company co-founded and led by CEO Anders Bally, is organizationally independent of BLKB, and aligns with the UN's 17 Sustainable Development Goals 2030, the statement added.
Bally was also the founder and chairman of Sentifi, a provider of financial data analytics based on collective intelligence, big data, and AI, according to his LinkedIn profile.
Radicant's banking license allows it to offer integrated and personalized financial services as a digital universal bank and is expected to enter the market by the end of 2022.
