WSFS and Zenbanx Tuesday announced the launch of the Zenbanx account at an event at the WSFS headquarters in Wilmington.
Zenbanx has been piloting technology in Canada and the U.S. that allows customers to use multiple currencies in a single account that can be accessed via mobile device.
Zenbanx also announced plans to put an operations center in Delaware that could employ 150 people over the next few years.
Zenbanx founder Arkardi Kuhlmann told the gathering of bank officials and government leaders t of that the efforts Gov. Jack Markell and U.S. Sen. Tom Carper helped to bring the start-up company and WSFS together.
Kullman was a founder of INGDirect, a company that successfully deployed branchless banking from its Wilmington headquarters
Carper and Markell both confirmed that discussions with Kuhlmann and his team confirmed that the heavily regulated banking environment was throwing up roadblocks for his start-up company and that a strong financial institution like WSFS might be one a good partner.
Markell said Zenbanx is important to Delaware, since it represents a future, where much of the world’s wealth will come from outside the United States. Helping people to more easily handle their finances while working in another nation is a way to be part of that future, he added.
WSFS CEO Mark Turner agreed to take on the challenge even though the company was in a growth mode of its own.
“It’s his baby,” Turner said of Kuhlmann and Zenbnks, adding that WSFS is happy to be in the delivery room.
Kuhlmann added that despite the challenges, WSFS has been a great partner, due to its culture that stresses open communication and a focus on the customer.
He went on to stress the social features of Zenbanx, touting the ability of the mobile technology to send photos and notes to loved ones, as well as money.
Zenbanx can do the following:
- Hold Multiple Currencies in a Single Account – Save up to five currencies from the menu of nine offered (AUD, CAD, EUR, GBP, HKD, INR, JPY, SGD, USD). Exchange and send currencies internationally or domestically for a flat fee, all from the Zenbanx mobile app – or use a global debit card to access currency positions.
- Exchange Currencies on Your Schedule – Zenbanx lets customers exchange currencies easily and conveniently. Even if that’s days, weeks, or months ahead of when they need to send money or travel internationally.
- Add a social touch by making international or domestic transfers fun with a themed message or photo – Add an in-app themed visual message – for a birthday, anniversary, Christmas, Hanukkah or New Year’s – and/or a picture when sending money to family and friends.
To download the Zenbanx app, visit your devices app store. To learn more about the Zenbanx Account click here.
Wilmington-based WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is now the oldest and the largest, locally-managed bank and trust company headquartered in Delaware and the Delaware Valley. As of October 31, WSFS Financial Corporation had $5.4 billion in assets and $1.2 billion in assets under management.
Zenbanx accounts in the U.S. are available through a strategic alliance with WSFS Bank and in Canada through DUCA Financial Services Credit Union Ltd. (DUCA), in Toronto. and insurance protection limits of a regular account.
Zenbanx was founded in 2012 by Kuhlmann the former CEO and founder of ING Direct Canada and USA. ING USA is now part of Capital One. Under Kuhlmann INGDirect employment in Delaware grew to more than 1,500 and the Capital One headcount is now believe to total 3,000. INGDirect co-founder James Kelly now heads the bank now known as CapitalOne 360.
Zenbanx has offices in Wilmington, Redwood City, CA, and Toronto, Ontario.
