Dubai is set to see the launch of a new digital bank CLEARLY soon. Former Tandem CTO James Greenwood is heading the team of professionals at the bank, which is offering banking ‘at your fingertips’ using a mobile model. The bank will offer account openings in seconds and completely online. Users will be issued a plastic card. The proposed bank is not aiming for a banking license at this time, but instead will partner with an established financial institution to use its regulatory capital. CLEARLY is backed by investors from Europe and Middle East. It CEO is Mike Cunningham, who has been with Abu Dhabi Commercial Bank and Barclays earlier, while the CFO is CFO Fara Remtulla who is a former director at Deutsche Bank. Cunningham said CLEARLY’s new digital banking proposition will place the customer’s needs first, putting banking in their hands and making accessing and growing their money easy.
