Chairman’s Report 2024
BaaS Breakthrough: Zenus 2.0 is here!
Reflecting on the rollercoaster that was 2024, this year stands as a monumental milestone for Zenus Bank. Five years of constant development and innovation have culminated in the launch of our groundbreaking cross-border FinTech platform including BIN Sponsorships and Embedded Banking. These solutions, meticulously developed in-house, represent the realization of Zenus’ vision to empower global fintech and transform access to secure, transparent, and scalable financial services for clients around the world.
Our platform isn't just another BaaS offering but one that specifically addresses and solves critical bottlenecks in the payments and fintech sectors saturated with Band-Aid solutions that inevitably imploded in 2024. We are regulated as a bank and provide infrastructure to power all kinds of payment rails including card issuance.
Redefining cross-border banking and payments
Our newly launched Virtual Accounts provide qualified partners with unparalleled API access to embed global banking capabilities, while the processor-agnostic BIN Sponsorship Program enables American Visa cards to be issued in over 100 markets. These flagship products and services showcase Zenus’ ability to deliver state-of- the- art, regulated technology solutions that achieve perfect product-market fit, addressing the evolving demands of our diverse international client base.
These launches are more than just product rollouts—they symbolize our commitment to pioneering solutions that redefine the future of banking and payments.
A Record Year of Growth
2024 has been a year of remarkable achievements for Zenus Bank:
- A 500% increase in accounts, reflecting strong demand for our offerings.
- A 4,000% growth in cards issued, demonstrating the adoption of our BIN Sponsorship Program alongside our retail banking services.
- A 2,500% increase in payment volumes, highlighting the scalability and effectiveness of our fintech and enterprise banking solutions.
These results witness the strength of Zenus’ vision, the dedication of our team, and the trust placed in us by our partners and clients. With partnerships now spanning every continent, Zenus has solidified its position as a trusted global partner in the financial sector.
Empowering a Global Community
Beyond growth metrics, our impact can also be measured by the transformative value we deliver to our clients. By enabling businesses and their clients across the world to access secure and efficient financial tools, Zenus is not only driving innovation but also fostering financial inclusion and economic empowerment on a global scale.
Looking Ahead
As we step into 2025, Zenus Bank will continue to lead with purpose. We remain focused on expanding our global reach, deepening partnerships, and building on this years’ momentum to shape the future of banking and payments.
I want to extend my deepest gratitude for the trust and collaboration of our investors, partners, and team members. Together, we are shaping a world where financial innovation and accessibility go hand in hand.
Mushegh Tovmasyan
Chairman, Zenus Bank
