Klarna applies for U.S. industrial bank charter to expand financial services

Summary

Swedish buy now, pay later company Klarna is seeking to expand its footprint in the U.S. market by applying for a charter to operate an industrial bank with the FDIC and Utah's Department of Financial Institutions. The company already operates as a bank in Europe under a license obtained in 2017, but has relied on partnerships with U.S. financial institutions like WebBank to offer its services. This move signals Klarna's ambition to deliver more comprehensive financial services directly in the U.S., including a recent partnership with Southwest Airlines.

Source

bskyKlarna applies for U.S. industrial bank charter to expand financial servicespaymentsdive.com