CivilisedBank has resubmitted its banking licence application to the Bank of England.
The FinTech startup, which offers digital business banking services and advice from banking experts to SMEs has also announced further funding from main shareholder Warwick Capital Partners along with investment from a FTSE100 pension fund.
CivilisedBank had been granted its original banking licence in May 2017 but chose to release it this year to allow for completion of its build phase and ensure that it launched with an optimal customer offering.
With its resubmission awaiting confirmation, CivilisedBank is now expecting to launch its banking operations in the first half of 2019.
Once its licence is granted, it hopes to provide its SME customers with working capital solutions and cash management including loans, asset finance, savings and payment services.
Mark Stephens, chief executive at CivilisedBank, said resubmitting the company’s banking licence was a key step towards a full launch in the coming year.
“It was really important that we took the time earlier this year to make sure that, when we come to market, it is with the optimal offering to customers.
“Since our inception, the market has changed significantly and this additional time has also allowed us to develop our proposition further to ensure it meets changing customer requirements.”
Latest News
-
UBS appoints chief AI officer to boost AI strategy
-
HSBC rolls out acquiring platform
-
Frasers Group uses ACP to complete direct purchases within genAI chatbots
-
BBVA’s bid for Sabadell collapses as chairman Carlos Torres vows to stay
-
Deutsche Bank, ING and Santander join Mastercard cyber defence exercise
-
Santander to merge Openbank and Santander Consumer Finance
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories