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How Black Banx has disrupted the finance industry in under a decade

In less than 10 years, Black Banx has emerged as a transformative force in the finance industry, challenging traditional norms and swiftly establishing itself as a pioneer banking institution. 

Founded by German billionaire Michael Gastauer, the company’s customer-centric approach with a focus on technology has made it a key player in the financial landscape, catering to the evolving needs and tastes of over 33M clients across 180 countries and territories.

Breakthroughs in Operating the Market

The company’s ability to process payments with speed and ease has been a catalyst for Black Banx posting a before-tax profit of USD 158 million this year. This is the highest figure in nine months since 2015. 

Globally connecting people and businesses through various platforms, Black Banx has posted USD 9.8 billion in net inflows, with net private client funds reaching an impressive USD 21.8 billion.

From a customer base of 200,000 in 2015, Black Banx has experienced impressive growth, reaching 33M clients this year. This expansion underscores its profound impact on the fintech sector in less than a decade, as it challenges conventional norms and pioneers innovative solutions to cater to the evolving needs of individuals and businesses on a global scale.

It has disrupted the nature of traditional banking, swiftly positioning itself as a powerhouse for innovation and a provider of solutions in the banking sector. 

Visionary Beginnings

The success story begins in 2013 when Gastauer, having identified flaws in traditional financial systems. He recognized the challenges of cross-border transactions, and envisioned an online banking platform that would revolutionize the industry.

This vision gave birth to Black Banx. The platform underwent successful testing, paving the way for its official launch. The primary goal was ambitious yet straightforward – to offer instant account opening for both private and business clients globally, coupled with real-time fund transfers in multiple fiat currencies and cryptocurrencies.

Entrepreneurial Expertise of Gastauer

Gastauer’s strategic investment in technological power fuels Black Banx’s exponential growth. Between 2014 and 2018, the Gastauer Family Office (GFO) invested a substantial US$380 million, playing a pivotal role in shaping Black Banx’s trajectory. By the end of 2018, the platform secured US$9.8 billion, solidifying its position as one of Europe’s most valuable fintech companies.

Black Banx’s journey is not only marked by financial success without Gastauer’s profound industry knowledge and entrepreneurial expertise. His ability to identify opportunities and strategic investments has set a precedent for entrepreneurial success in the fintech ecosystem, making Black Banx a symbol of innovation, efficiency, and global financial inclusion.

With his leadership, Black Banx evolved from a promising startup to a conglomerate of financial institutions in less than ten years. 

Technological Advancements and Customer-Centric Focus

As Black Banx continues to evolve, it customizes its services to suit individual customer needs. The company’s cryptocurrency proposition is unique, offering clients autonomy by connecting a fully-fledged banking platform with the features of a crypto exchange, allowing clients to use their crypto balance to pay third parties directly from the platform.

By utilizing data analytics, the company is also ready to adopt technologies such as quantum computing and augmented reality, aiming to improve banking security and enhance the overall customer experience. Through Black Banx’s mobile apps, customers can securely manage finances and conduct transactions anytime and anywhere.

Black Banx’s services include the following: 

  • private and business group accounts in 28 FIAT and 2 crypto currencies
  • international payments, inter-platform instant payments
  • multi-currency Mastercard Debit Card
  • real-time 24/7 currency exchange and crypto trading services
  • interest-bearing savings accounts in EURO, USD, GBP, JPY
  • and batch upload/API for executing a large number of payments for business customers. 

Expanding Future Plans

This year, Black Banx is set to establish a lasting presence in the Middle East, leveraging digital banking entities established by well-established banks and consortia in the region. Unlike other areas where digital banks often originate from fintech intermediaries, this unique approach allows for efficient scaling and cost reduction.

With 35% of revenue generated in the Asia Pacific, 32% in Latin America and the Caribbean, and 16% in North America, Black Banx strategically aligns its operations with global financial trends. Additionally, the Middle East Africa region contributes 15%, and Europe, Iceland, Norway collectively account for 2% of the revenue. Black Banx’s superior technological capabilities, reflected in owning Europe’s most valuable fintech companies.

Looking ahead, Black Banx aims for expansive customer reach and sustainable profitability, targeting 38M customers, over $16 billion in private client funds, and an annual revenue of $1.9 billion by the end of 2023. The company accelerates its global acquisition strategy to achieve these ambitious goals.

Black Banx’s journey over the past decade is a testament to its commitment to reshaping the future of finance on a global scale. From visionary beginnings and entrepreneurial expertise to technological advancements and a customer-centric focus, the company has set new standards for efficiency and inclusivity in the financial landscape. 

As Black Banx looks ahead to its expansive future plans, it stands at the forefront of innovation–

leading the way in transforming the financial industry and fostering global financial inclusion.


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