After a leadership change and some delay Radicant, the digital banking subsidiary of Basellandschaftliche Kantonalbank, has arrived on the market.
Speaking to finews.com in June, Radicant co-chief Roland Klaey declined to commit to an exact date for full market entry, saying only it would take place by the end of the year.
On Tuesday, the digital banking subsidiary of Basellandschaftliche Kantonalbank (BLKB) announced its offerings are now available to the general public in the Google and Apple app stores, according to an emailed statement. With that, it completes the beta phase initiated at the end of March.
Focus on Sustainability
The banking app offers various investment products focused on the UN's Sustainable Development Goals (SDGs) and serves as the basis for asset management via cell phone. Customers are offered account management and payment processing, as well as physical and virtual debit cards and payment services such as Apple Pay, Google Pay, and Twint.
Full market entry was postponed after some waiting for banking license approval. Then in February, there was a scandal that enmeshed the former head of the digital bank, Anders Bally.
Next Hurdle Ahead
The company can now put all this behind it. «We're very pleased that after the successful completion of the beta phase, Radicant's offerings are now available to the general public. This means an important milestone in the bank's development has been reached on schedule,» said Thomas Schneider, Chairman of the Bank Council of BLKB Group.
But the next hurdle is already waiting in the wings. As Co-Chief Klaey told finews.com, Radicant aims to break even by 2025/26.
