Grasshopper Bank, a New York, NY-headquartered US startup bank, as per recent reports this week, has just opened up for business, after its completion of a private placement offering, gaining all final regulatory approvals.
Reports also suggest that the US startup bank has squared in on Temenos for its T24 Transact core banking software. The NY-based Grasshopper Bank will be targeting innovation economy companies and capital communities both in New York and other major US innovation economy friendly zones. Last month, on May 13th, 2019, the bank opened for business only for a select group of entrepreneurs and venture investors, with its broader service rollout plans scheduled for coming months.
“Traditional banks, limited by antiquated and burdensome legacy systems, are less equipped to meet the needs of early-stage companies. Their business models and infrastructure do not position them to provide products and services for today’s digital entrepreneur at affordable prices, or to take advantage of new technologies around data, security and user-friendly access,” states Judith Erwin, CEO, Grasshopper Bank. “In contrast, Grasshopper Bank will act as a partner with entrepreneurial companies, delivering digitally-driven, streamlined services that give management teams more efficient command of day-to-day financial operations.”
Minerva Tantoco, the co-founder of the US startup Grasshopper Bank, who has an immense experience working at various senior positions at UBS, Merrill Lynch, Fannie Mae, and as the first CTO of the City of New York, under her belt of accomplishments, is the CTO at Grasshopper Bank.