Branchless SME bank granted licence
A new branchless digital bank for SMEs has secured its banking licence from the Bank of England ahead of a planned launch in early 2018.
CivilisedBank will serve businesses through services such as loans, overdrafts and foreign exchange, using a network of local representatives with access to the latest online technology.
Additional offerings will include a range of savings products for the UK retail market, current accounts with deposits and transaction banking.
“We are reinventing traditional banking for businesses by bringing back one-to-one relationship banking to SMEs, enabled by the very latest technology – both online and mobile,” said Chris Jolly, chairman of CivilisedBank (pictured above).
“We want to return to a civilised way of banking with personal service backed by effective technology without any legacy issues.
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