De Novo's, bank charters, and your bank's strategy
In this episode we examine the challenges of starting a De Novo Bank, the surge in bank charters and what type of companies are applying for them, and should a bank consider changing its charter to fit its future strategy. A De Novo Bank must raise a significant amount of money to get started. They must also consider market fit, capital and investor base, strategic differentiation, and execution capacity. What type of companies are applying for bank charters? Large corporations / auto companies (Ford & GM), fintech and payment platforms (PayPal & Revolut), digital assets and crypto firms…
The skinny
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