New bank continues transformative vision of original Medici Bank of Florence
Prince Lorenzo de’ Medici, descendant of the original banking family, and Ed Boyle, former Fidor Managing Director of Americas, have announced the creation of Medici Bank, a digital bank focused on the needs of today’s international customers. The founders combine years of experience managing both traditional and digital assets to lead a team specialized in advanced banking technologies for digital-centric commerce and investing. The fully-licensed, U.S. chartered bank, headquartered in Puerto Rico, is developing convenient, transparent, and easy-to-use services for customers that need a fast, secure banking option.
Born out of frustration with the current financial services landscape, Prince Lorenzo de’ Medici and Ed Boyle founded Medici Bank to address the biggest problems with today’s banking options, especially for growing international businesses and family offices. By prioritizing the needs of customers rather than shareholders, and leveraging only modern technology rather than antiquated banking infrastructure, Medici Bank will be a radically faster, lower-cost, and more transparent option.
Director Lorenzo de’ Medici said: “The original Medici Bank of Florence, founded by my family in the 14th century, revolutionized the world’s economy. Many of their innovations that drove the development of international commerce — like holding companies, double-entry bookkeeping, and letters of credit — are still in use. The Medici Bank of today will be a reawakening of that innovative spirit; we are reimagining modern-day banking by leveraging technology that creates seamless, digital customer experiences and expands financial opportunity across global markets.”
An expert in wealth management and alternative investment strategies, de’ Medici manages his family’s portfolio and shared ownership in a number of European banks. Recent technological advancements in financial services, such as blockchain, have now motivated him to step into an operational capacity at Medici Bank, where he leads business development and builds strategic partnerships. Director de’ Medici holds an MBA from the University of Bologna. CEO Ed Boyle’s background spans more than 20 years of leadership roles at banking and payments companies including Managing Director of Americas at Fidor Bank, Vice President and General Manager at American Express, and CEO of Blade Payments. Boyle holds an MBA from New York University Stern School of Business.
CEO Ed Boyle said: “We prioritize the needs of digitally-native businesses and address the friction and inefficiencies that exist with established banking options. We are building Medici Bank from the ground up, not reliant on aged infrastructures nor as an overlay on traditional banks. This is uncommon, especially in the United States where licensed challenger bank options are few and far between.”
Medici Bank is continuing to build a forward-thinking team of technology and financial experts passionate about changing the way retail users and institutions handle their finances. To learn more, visit medicibank.info.