Chairman's Report 2022

2022 marked Zenus’ third full year and it proved to be our most successful so far.

Despite geopolitical and economic uncertainty remaining at the forefront of everyone’s minds, Zenus has navigated troubled waters in a way that set up a promising future for us and clients alike.

Access to the U.S. banking system remains challenging for many. In a truly globalized world, this should not be the case and I am delighted to be part of a team that is taking banking beyond borders.

I’m proud of the way our global team has been so committed and laser-focused on our mission to build cutting-edge digital banking infrastructure for individuals and businesses and establish ourselves as the sponsor bank for global brands and FinTechs.

Clients in 94 countries

Our global footprint continued growing and Zenus Bank clients have now opened accounts in 94 countries. This is up from 59 a year ago and we hope to cross into three figures in 2023.

Economic uncertainty and the strength of the U.S. dollar have made our full-reserve banking model more valuable than ever, as clients seek security and stability when depositing their money.

Partnering with world-renowned companies

We announced partnerships with Microsoft, HSO and Finxact in 2022, demonstrating our drive to deliver the best possible experience for clients. Working with brands of this renown will support our ambitious growth plans to become world leaders in the industry.

Virtual debit card rollout

We rolled out virtual Visa debit cards to our clients for the first time this year. The cards, as part of a partnership with the world leader in digital payments, mean clients have unsurpassed card acceptance worldwide

Growing our correspondent banking network

Our correspondent banking network continued to grow as part of our aim to be a truly global digital bank.

Building our team

We now have over 40 Zenus team members across Puerto Rico, the Dominican Republic, the United States and the United Kingdom, adding plenty of experience and enthusiasm to develop a best-in-class offering for our clients.

Increasing brand awareness

2022 also marked our first sponsorship deal. Zenus became the presenting partner of the World Match Racing Tour Final in Sydney, Australia as we grow our profile as a U.S. Retail and Corporate Bank for international citizens and businesses.

From releasing our virtual debit cards to partnering with blue-chip brands and growing our team, 2022 has truly been a year to remember at Zenus Bank.

We are determined to make Zenus the bank of choice for the internationally active and have some exciting plans in store for 2023. I am eager to announce these in due course.

Until then,

Mushegh Tovmasyan

Chairman of the Board