Klarna Files for U.S. Banking License | Klarna Bank USA

New York, USA - Klarna (NYSE: KLAR), the global digital bank and flexible payments provider, announced that it has formally submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) to establish Klarna Bank USA. The proposed entity would function as a Utah-chartered industrial bank.

This move represents a significant strategic step for the company, which has operated as a licensed bank in Europe since 2017. By establishing a domestic charter, Klarna aims to bring its U.S. banking operations in-house, seeking to enhance reliability across its suite of payments, savings, credit, and merchant services.

Leadership Appointment

Alongside the application, the company has selected Gary Harding to lead the new institution as President and CEO of Klarna Bank USA. Harding brings extensive experience in the U.S. financial sector, having previously served as Chairman and CEO of Milestone Bank and President and CEO of Prime Alliance Bank.

Strategic Objectives

If approved, Klarna Bank USA would operate as a wholly owned subsidiary of Klarna Inc. with its own independent board, governance, and internal controls. The organization views this development as a way to foster sustainable growth while offering consumers a transparent, digital-first banking experience.

Key Highlights

• Proposed Utah-chartered industrial bank seeking FDIC insurance.
• Goal to integrate existing U.S. services directly under a proprietary banking license.
• Appointment of Gary Harding as President and CEO of the new entity.
• Company currently serves 30 million annual U.S. customers with AI-powered payment solutions.