US neobank Zenus gets licence

via FinTech Futures 

Puerto Rico-based challenger bank, Zenus, was granted its banking licence by US regulatory authorities this week.

Unlike other challengers, Zenus will allow anyone in the world to open an account, including the unbanked population from countries such as South America, India and China.

Despite doing no marketing, the neobank says it has already received “thousands” of sign-ups through “word of mouth” on its waiting lists, attracting potential clients from 118 different countries.

“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,” says Zenus chairman, Mushegh Tovmasyan.

He adds: “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.”

In keeping with other digital challenger banks, Zenus will not have any physical offices.

The company’s founder comes from an ex-retail trading background, with senior sales experience at Alpari before creating FCA-regulated UK trading broker, Equiti Capital.