Banking startup bringing high-paying jobs, headquarters to Valley

Jul 24, 2019, 1:00 PM | Updated: 9:47 pm
(Pixabay Photo)...
(Pixabay Photo)
(Pixabay Photo)

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 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.

Arizona News

(Public Domain Pictures Photo)...
Associated Press

US District judge considers request to block Arizona abortion law

A lawyer for several Arizona abortion providers urged a federal judge Wednesday to block a new state law that would allow prosecutors to charge doctors who knowingly terminate a pregnancy solely because the fetus has a genetic abnormality.
6 hours ago
(Pixabay photo)...
Griselda Zetino

Wet monsoon in Arizona brings record-high season for West Nile virus

This year’s wet monsoon in Arizona has created the perfect breeding ground for mosquitoes, and that’s leading to a record-high season for the West Nile virus.
6 hours ago
(SRP photo)...

SRP’s largest solar power plant in Arizona to be developed northwest of Flagstaff

Arizona public utility Salt River Project announced Wednesday the company's largest solar plant in the state will be developed northwest of Flagstaff.
6 hours ago
A mechanic works on replacing a catalytic converter in Davie, Florida, in this 2009 file photo. (Ph...
Kevin Stone

Mesa police make 3 arrests in battle against catalytic converter thefts

Mesa police said Wednesday they are working to combat a rise in catalytic converter thefts, with an undercover operation resulting in three arrests so far.
6 hours ago
Hans Hughes (Downtown Phoenix Ambassadors photo)...

Phoenix ambassador dies after being struck by alleged drunk driver in August

A member of the Downtown Phoenix Ambassadors died Tuesday after being struck by an alleged drunk driver in August, Downtown Phoenix Inc. said.
6 hours ago
(Oktoberfest at the Fountain Photos)...

Oktoberfest in September? Raise glasses this weekend in Fountain Hills

It's still September, but the annual Fountain Hills Oktoberfest celebration is on tap for Friday and Saturday night in Fountain Hills.
6 hours ago
Banking startup bringing high-paying jobs, headquarters to Valley