Onyx Private Shifts Focus to B2B Model, Ceases Consumer Banking Operations

Miami-based digital bank Onyx Private, previously backed by Y Combinator, has announced the termination of its consumer banking services, as revealed in a recent email communication with customers. Co-Founder and CEO Victor Santos confirmed the transition, stating that the company is pivoting away from its B2C model towards a B2B white-label platform-as-a-service approach. This strategic shift aims to cater to community banks, regional banks, and credit unions seeking to offer digital banking solutions tailored for affluent young consumers, reflecting Onyx’s evolving business strategy.
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