Business and retail challenger bank, CivilisedBank, has secured initial stage funding ahead of a planned launch later this year. It takes its place alongside a number of startups (Atom, Starling et al) who are looking to disrupt the UK banking sector.

Headed up by Chris Jolly, a former senior executive at Merrill Lynch, Commerzebank and Societe General, the company will not have branches but will instead operate through a network of 'Local Bankers', backed by what it dubs an "innovative technology platform that is new to the UK." And that would be the Profile FMS.Next banking engine. The rest of the management team looks like this: Gordon Dow (CEO), Will Banks (CFO), Hazel Hellier (chief business development officer) and Fiona Brownsell (project manager and regulatory lead).

Jolly says: “CivilisedBank will be at the forefront of a new generation of 21st century banks which are fair, transparent and responsible. We are pioneering a next generation model of customer-facing, technology-driven banking in the UK. Our local bankers will be responsive to the banking and financial needs of businesses in their communities based on one-to-one relationships with their customers. After years of turmoil, we believe that the UK deserves a more civilised approach to banking.”

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