FLYNT, a Swiss digital wealth management firm, has secured a banking-license from the local financial regulator FINMA.
The new bank will operate under the name Flynt Bank.
“The banking-license allows FLYNT the required independence to approach Wealth Man-agement in new ways and using innovative technologies, thus enabling private and institutional clients, such as entrepreneurs and family offices, to independently control their total wealth at all times,” the wealth manager said in a statement.
The wealth manager, launched by Leonteq CEO Jan Schoch, said that it is building a technology platform to facilitate the independent management of customers’ complex wealth structures.
The platform will integrate bankable and non-bankable assets, FLYNT said, in order to tap opportunities in wealth management, liquidity, and risk and wealth management among various areas.