Banking startup bringing high-paying jobs, headquarters to Valley

PHOENIX – A banking startup announced Tuesday it will be setting up its corporate headquarters in the Phoenix area, promising hundreds of high-paying jobs.

Verdigris Holdings specializes in serving “unbanked” and “underbanked” customers with limited access to traditional banking systems, an issue it says impacts 63 million Americans.

“To address this significant need we wanted our headquarters in a state that would be our partner with the right access to talent, innovation-oriented regulatory environment, and focus on its communities,” CEO Michael Coghlan said in a press release.

“We found that home in Arizona.”

The company plans to bring more than 210 jobs with average annual salaries of more than $150,000 to the Valley by 2022 and make a $19 million capital investment.

“We are excited Verdigris has chosen Arizona to create hundreds of new, high-paying jobs,” Gov. Doug Ducey said in the release.

“More and more companies are moving to Arizona for our world-class economic environment and exceptional quality of life.”

The specific location of the headquarters was not announced.

Verdigris was accepted into Arizona’s first ever #FinTech Sandbox in May of this year. Verdigris is testing a custom platform designed to provide low cost money transmission services. https://t.co/iAJTme0VlV

— Mark Brnovich (@GeneralBrnovich) July 23, 2019

Verdigris already has been active in Arizona in the state’s FinTech Sandbox, a program launched last year to encourage financial technology innovation by easing regulatory burdens.

The program, the first of its kind in the U.S., allows companies like Verdigris to launch test products without full state licensing.

“Arizona was a first mover to assure that businesses can test, validate and scale FinTech operations through a sandbox program, and Verdigris’s selection of greater Phoenix for its headquarters validates the importance of these cutting-edge programs,” Chris Camacho, president and CEO of the Greater Phoenix Economic Council, said in the release.

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