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.
“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.”
“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.