By Karen Brune Mathis & Mark Basch â¢ Editors
The new digitally-based American Challenger Bank, based in Connecticut, will lease space in downtown Brooklyn for a Jacksonville customer service center, market reports and job postings.
The Gen X-focused bank will lease 17,449 square feet of space at 532 Riverside Ave., Florida’s Blue Cross & Blue Shield campus, according to Colliers and NAI Hallmark in their third quarter analyzes.
Representatives of the bank could not be reached immediately for comment.
A local connection is a member of the advisory board.
The American Challenger website lists an advisory board that includes Rob Clements, former chairman and CEO of Jacksonville-based EverBank Financial Corp.. He built and led EverBank as Chairman and CEO until its IPO and until its 2017 acquisition by TIAA.
Aleizha Batson, senior regional communications manager for Florida Blue North Florida, said the American Challenger Bank was renting a floor in the building’s tower.
A job posting says the Jacksonville customer service center will open in late 2021.
The displays do not indicate how many employees will be needed in the office or remotely. The rented space can typically accommodate 90 to 110 employees, depending on the office configuration.
American Challenger Bank received conditional approval for its charter in December 2020 from the Office of the Comptroller of the Currency, which regulates domestic banks.
The company filed a strategic plan with the Controller in November 2020 that indicated it would be a national bank headquartered in Fairfield, Connecticut.
âThe core business of the Bank will be to deliver traditional banking products nationwide through a digital platform and deliver a redesigned customer experience,â the app said.
âThe bank will provide a personalized, concierge-level customer experience to all customers through digital channels and call centers,â he said.
The bank said it will focus on Gen X customers, aged 39 to 54, who are open to digital banking.
Generation X is generally defined as the post-baby boom generation born from 1965 to 1980, or 41 to 56 years old.
âThe Bank’s market research indicates that Gen Xers are motivated to build a better future for themselves and their families, balancing work pressures and complex family needs, and seeking ‘current information to empower themselves rather than relying on’ black box ‘solutions, âsays the app.
The company said its technology infrastructure would be cost effective and that it expects “to pass some of those savings on to its customers.”
American Challenger Bank plans to have more than $ 4 billion in assets by the end of its first year of operation and become profitable in the second year, according to the app.
The organizers of the American Challenger Bank have filed a claim with the Federal Deposit Insurance Corp. and also applied to the Controller for a national banking charter in July.
According to the company’s website, American Challenger was founded by Felix Scherzer, who was previously responsible for mergers and acquisitions of financial institutions at Credit Suisse and Morgan Stanley. Scherzer is president and chairman of the company
CEO Raymond Quinlan is a former CEO of the Sallie Mae student loan organization.
Besides Scherzer and Quinlan, other members of the company’s board include the former CEO of E * TRADE Financial Corp. Karl Roessner; the founder and CEO of Sector Financial Inc., Dean Graham; Sunlight Financial LLC CEO Matthew Potere; and the managing partner of Six Trees Capital LLC, Gary Zimmerman.
The website also lists the advisory board which includes Clements, who is now president and CEO of Covius Holdings Inc., which provides services and technology to financial companies. It operates out of Jacksonville.
The bank has been posting jobs since late August in Jacksonville, including treasury analyst, mortgage valuation manager, senior customer service specialist, customer service specialist and payment operations manager.
A corporate accounting executive position says he’s looking for a corporate accounting vice president who “will help bring that vision to life.”
He describes himself:
âAmerican Challenger Bank is building the bank of the future. We believe that US banks have gone astray, focusing too much on profits rather than the people they serve. This is why we are creating a bank that has the client’s championing spirit at its heart.
âWe are building a more personal digital bank, tailored to the needs and aspirations of our customers. We tackle the banking landscape to reward those who work hard and pursue their ambitions.
âThe American Challenger Bank team strives to deliver the right banking services – a rewarding and personal experience that helps our clients thrive. “
The publication says the vice president of accounting will be responsible for managing highly automated financial processes on a cutting-edge technology platform to meet the accounting and reporting needs of the bank and its holding company, American Challenger Development Corp.
The role includes “monitoring and managing highly automated workflows related to the AR / AP (Accounts Receivable / Accounts Payable) payment cycle and fixed asset lifecycle, supporting month-end close processes and the monitoring and management of automated reconciliation routines. “
He said the role will start with remote work in the greater Jacksonville area and then move to the Jacksonville customer service center at the end of 2021.
An Oct. 28 job posting for a payment operations manager says the position will be responsible for the development, implementation and administration of all aspects of the bank’s payment operations designed to keep it running. efficient and continuous payment and money movement capabilities.
SPGlobal.com, the website of credit rating and analysis provider S&P Global, reported in July 2020 that the proposed holding company is American Challenger Development Corp.
He said the American Challenger Bank will offer traditional deposit accounts, residential mortgage loans to major consumers, and senior secured commercial loan products for mid-market clients in “niche and well-diversified industry sectors.” .
He said American Challenger would be capitalized with $ 750 million from the capital raising efforts of his holding company. The bank will also raise $ 230 million in capital in the form of non-cumulative preferred shares eligible for category 1.
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