WSFS Financial Corporation and financial tech company Zenbanx on Tuesday announced the commercial launch of the first mobile, multi-currency solution for people who live, work or travel across borders.
WSFS Bank will be the official issuer of the Zenbanx account, which will allow customers to hold balances denominated in up to five of the nine currencies offered in a single account, exchange among currencies, and transfer funds domestically or internationally for a flat rate — all from their mobile, according to officials.
“We live in a diverse society now,” said Zenbanx founder and CEO Arkadi Kuhlmann, former founder and president of ING Direct Canada and USA, which was sold to Capital One in 2011. “The people that need mobile banking are the people with family and business in other countries.”
Kuhlmann said Delaware embraced the online banking model a decade ago, and the state’s strategic location between Washington and New York City continues to make it ideal for growing business.