Radicant sets up in Portugal
The Swiss digital bank Radicant has set up its Centre for European Innovation in Portugal.
Radicant, founded in 2021, is the first Swiss digital bank dedicated to sustainable investments and its new hub will be in the Real Estate Constructions Arena (Arena Construções Imobiliárias) which owns the premises on Lisbon’s Avenida Infante Santos.
The new hub, which is on the floor once occupied by the call centre Teleperformance, will employ 45 staff in areas such as software development and cloud engineering. Radicant employs 57 staff in Switzerland.
Radicant decided to choose Portugal after the digital bank opted to widen it recruitment drive to other European countries, The overall climate, diversity of people and the ability of the Portuguese to speak different languages, particularly English were all criteria that were taken into account according to Diogo Silva, the managing director of Radicant’s Centre of Innovation in Portugal.
The expansion of the bank, which is part of Basellandschaftliche Kantonalbank, one of 24 canton or district banks – began four months after the founder and CEO of Radicant, Anders Bally was sacked following the publishing of an internal email in which he criticised the press and local politicians.
Radicant’s set up in Portugal is being supported by the constants Savills which told the online news source ECO that Portugal “has seen a high level of technological growth, being placed as one of the main European technology hubs which makes it attractive for companies”.
The bank markets itself as sustainable because Radicant accounts support sustainable lifestyles with features such as digital-only account management, a virtual debit card and an optional physical debit card made from recycled PET. Also, the carbon footprint tracker helps customers become even more environmentally friendly when it comes to everyday spending.