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CENTRALWAY is said to be intent on redesigning the whole banking experience by creating the bank of the future under the motto ‘100 per cent mobile and 100 per cent digital’. The firm, which already developed the multi-banking app Numbrs, is working on a number of new products. The company also has a stake in a number of banking-related companies.
The organisation, which has its headquarters in Zurich but also has offices in London, has stated that it wants to upend traditional banking. It insists that today’s consumers want something more than a high street branch that is closed most of the time and poor customer service, suggesting that people desire responsive secure mobile banking.
CENTRALWAY was founded in 1999 by Martin Saidler and has built or funded more than 200 internet companies. Having started out as a ‘hands-on’ venture capital firm, CENTRALWAY transformed into a company builder. Following the deep market penetration of the Numbrs app in Germany, the company decided to enter the mobile banking sector.
CENTRALWAY has already declared its plan to target new markets in the United States and the United Kingdom. Some 100 staff currently work out of the offices in Zurich and London. Teams operate across an array of fields including software development, design, marketing, finance, operations, research and development and human resources.
Investments and exits
CENTRALWAY financed a number of fintech start-ups. It invested in Standard Treasury, a California-based company that develops banking systems. Alongside Google Ventures, it also invested in Buttercoin – a trading platform for Bitcoin.
Over the years, a large number of CENTRALWAY-financed companies became market leaders before they were sold to high-profile names such as Axel Springer, Tamedia, Scout 24, The Daily Mail group and Time Warner.
Company belief - ‘technology is transforming the world’
CENTRALWAY believes that the consumer landscape is being radically transformed by the rise of technology. The company website states: “Technology is transforming the world - for the better. Long-established companies are being replaced by new players intent on providing simple, elegant and superior mobile solutions.
“This seismic shift is happening across all industries. Only the organisations that are able to adapt to this new paradigm will thrive.”