Geneva-based digital private bank Alpian has been granted a banking licence by the Swiss Financial Market Supervisory Authority (Finma).
The bank was first incubated by REYL Intesa Sanpaolo, the Swiss banking group majority-owned by Fideuram – Intesa Sanpaolo Private Banking.
The banking licence will become effective after undisclosed conditions are met and services will be made available in Q3 2022, mainly targeted at the Swiss affluent population.
Alpian said its offering will comprise a hybrid model combining banking technology and everyday services with wealth advisory capabilities, to provide clients a service that has been “normally reserved for those at a traditional private bank”.
Also, the digital bank has secured CHF19m (£15m, $20m, €18.5m) in its series B+ financing round, after raising CHF12.2m in 2020 and CHF16.9m in 2021.
‘Unique and bespoke’
Schuyler Weiss, chief executive of Alpian, said: “Since 2019, we have built what will become Switzerland’s first digital private bank.
“With the funds raised during the Series B+ and with its new standing as a licensed Swiss bank, Alpian is well equipped to launch its offering and to start the process of earning the trust of each and every one of its future clients.”
Pasha Bakhtiar, REYL Intesa Sanpaolo partner and chairman of Alpian, added: “We are proud to have passed these two milestones on our way to delivering a truly unique and bespoke digital private banking offering.
“The successful journey so far is a testament to the resilience and dynamism of the Alpian team, as well as the vision of REYL Intesa Sanpaolo in incubating Alpian.”
