Currently, Klarna offers its financial services in the U.S. market through partner banks, including the company's recently launched savings accounts operated in collaboration with WebBank. If the application is approved, it would allow the payment company to manage its banking operations in the U.S. under its own roof.
Banking is built on trust, says Sebastian Siemiatkowski, co-founder and CEO of Klarna.
We have seen with our own eyes the appetite for a more fair and transparent model in the U.S., and our own bank license is the natural next step, giving customers the tools to borrow responsibly and build financial confidence.
The new bank is planned to be a wholly-owned subsidiary of Klarna Inc. Gary Harding, who previously held leadership roles at Milestone Bank, among others, has been appointed CEO of the planned operation. Klarna has operated with a European bank license since 2017.