Fintech veteran Christian Frahm has launched United Fintech on Tuesday, a company that is aiming to provide banks and other financial institutions access to capital market-focused digital technologies.
“Most fintechs globally are focused on disrupting banks. We believe in the opposite,” Frahm, Founder and CEO of United Fintech, said in a statement. “We believe banks serve as a core part of our society and we want to partner with banks to help them to transition to a digital world.
“We need banks and financial institutions to adapt if they are going to compete favorably with the global tech firms and disruptors which are rapidly making in-roads into the financial services sector.”
Headquartered in London, United Fintech entered the industry when banks are transitioning into the digital world.
Additionally, the new company has plans to acquire innovative small to medium-sized fintech startups and scale them up over the next five years. The deals will primarily focus on startups with products for capital markets.
United Fintech already made its first acquisition by gaining a majority stake in Danish fintech, NetDania. The startup offers market data, APIs, market terminals, charting components, and white-labels solutions on cross-platforms.
The press release shared with FortuneZ detailed that United Fintech has already drafted its plans for making other strategic acquisitions. It is aiming to diversify its portfolio with a wide range of fintech products, including trading platforms, liquidity management, regulatory reporting tools, AI and machine learning applications, big data tools, and institutional blockchains.
“United Fintech can not only help banks and financial institutions to access the latest technology but can also help with implementation including technical onboarding, vendor onboarding, technical due diligence, and credit due diligence,” Frahm added.
On-boarding Industry Veterans
The new company also on-boarded Tom Robinson as a Partner and Head of Sales. Before his new role, he was the Managing Director and Head of e-FX Sales at Jefferies. He has over 20 years of experience in investment banking and also worked for Goldman Sachs, Barclays Capital, and Bloomberg.
“Christian is truly a visionary for the industry who I’ve always wanted to work alongside,” Robinson said. “The timing is perfect for United Fintech’s launch – banks know they need to engage with fintechs, and we are ideally placed to help them to execute their fintech strategy whilst also helping the fintechs to gain a seat at the table.”