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Basler Kantonalbank is forming an independent subsidiary as of 1 January 2019 that will develop new business models, thus acting within the bank’s strategic guideline of increasing innovative strength.
The Basler Kantonalbank (BKB) holds a 100 per cent stake in the new innovation lab. It will be located in Basel, thus emphasizing BKB’s commitment to its home canton while also establishing a counterpoint to Zurich or Zug, according to a press release. The new startup will benefit from the BKB network, and BKB will also provide startup financing.
Starting next year, the innovation lab will develop digital business models, which will allow customers to experience financial services in a new way.
BKB is now looking for premises outside the bank, which is meant to ensure both organizational and spatial separation. The intent is to create a “radar” that can identify new, disruptive solutions and develop innovation services and business models for the two Group banks, explains the bank.
The new CEO has yet to be appointed but will lead a team of some 12 employees with an interdisciplinary background. BKB employees will also be involved in projects in the new subsidiary for a limited period. In order to ensure BKB’s strategic interests, current members of the executive management Mariateresa Vacalli and Michael Eisenrauch will be on the board of directors of the new company.