Fintech veteran Christian Frahm has launched United Fintech on Tuesday, an organization that’s aiming to offer banks and different monetary establishments entry to capital market-focused digital applied sciences.
“Most fintechs globally are targeted on disrupting banks. We consider within the reverse,” Frahm, Founder and CEO of United Fintech, mentioned in a press release. “We consider banks function a core a part of our society and we need to associate with banks to assist them to transition to a digital world.
“We want banks and monetary establishments to adapt if they’re going to compete favorably with the worldwide tech corporations and disruptors that are quickly making in-roads into the monetary companies sector.”
Over his 20 12 months profession, Frahm served at Saxo Financial institution and Bloomberg however is thought for founding and heading CFH Group.
Headquartered in London, United Fintech entered the trade when banks are transitioning into the digital world.
Moreover, the brand new firm has plans to accumulate modern small to medium-sized fintech startups and scale them up over the subsequent 5 years. The offers will primarily concentrate on startups with merchandise for capital markets.
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United Fintech already made its first acquisition by gaining a majority stake in Danish fintech, NetDania. The startup affords market knowledge, APIs, market terminals, charting elements, and white-labels options on cross-platforms.
The press launch shared with Finance Magnates detailed that United Fintech has already drafted its plans for making different strategic acquisitions. It’s aiming to diversify its portfolio with a variety of fintech merchandise, together with buying and selling platforms, liquidity administration, regulatory reporting instruments, AI and machine studying functions, large knowledge instruments, and institutional blockchains.
“United Fintech cannot solely assist banks and monetary establishments to entry the newest expertise however may assist with implementation together with technical onboarding, vendor onboarding, technical due diligence, and credit score due diligence,” Frahm added.
On-boarding Business Veterans
The brand new firm additionally on-boarded Tom Robinson as a Associate and Head of Gross sales. Earlier than his new function, he was the Managing Director and Head of e-FX Gross sales at Jefferies. He has over 20 years of expertise in funding banking and likewise labored for Goldman Sachs, Barclays Capital, and Bloomberg.
“Christian is really a visionary for the trade who I’ve at all times needed to work alongside,” Robinson mentioned. “The timing is ideal for United Fintech’s launch – banks know they should interact with fintechs, and we’re ideally positioned to assist them to execute their fintech technique while additionally serving to the fintechs to achieve a seat on the desk.”