US challenger Grasshopper Bank hops into view
There’s a new US-based challenger bank in the works, with the name of Grasshopper Bank, and HQ-ed in New York.
It is understood that the bank is the rebranding of New York Venture Bank, which is currently going through the bank charter (banking licence) application.
The bank has already selected a new core banking system – Temenos T24. FinTech Futures contacted Temenos and, while it didn’t provide a comment with specifics, it did refer to Grasshopper Bank as a “client”.
The bank will provide commercial banking products and services to businesses, particularly in New York.
Leading the firm is Sangeeta Kishore as CFO, and it is believed that Judith Erwin, former executive at Square 1 Financial, will be Grasshopper’s CEO.
The company offers term loans, lines of credit, and owner-occupied real estate and asset-based lending. It also offers deposit products and online banking.
Check out our most recent Varo Money story for more T24 selections.
Grasshopper Bank is being added to our (recently published) list of US-based challenger banks. Make sure you take a look!