Zenus Bank Gets US Regulatory Approval

A new challenger bank was awarded a license by US regulatory authorities on Monday. Zenus Bank, which is based in Puerto Rico, has received a permit to begin operations.

The company was founded by Mushegh Tovmasyan, an ex-Retail Trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term executive who held senior sales positions at Alpari before founding Divisa Capital.

"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," said Tovmasyan, who is also chairman of Zenus.

"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."

Open access US bank accounts

Like other challenger banks, such as Monzo and Revolut, Zenus will not have any physical offices.

Instead, clients will be able to open an account via their phone, tablet, or computer. Any problems with their account can then be dealt with through an application.

Unlike other challenger banks, however, Zenus will allow people from anywhere in the world to open an account. That means someone living in Europe or South America can access a US bank account.

And, despite having done no Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term, the bank said that it has already received thousands of sign-ups for its waiting lists, with potential clients coming from 118 different countries.

"These sign-ups are coming predominantly by word of mouth as there has not yet been any marketing effort by the Bank while we focus on the build-out of our infrastructure and technologies," said Weiyee In, chief strategy officer at the bank.