While the name is to be revealed next month, we can disclose that the bank will be taking the well-known concepts of deposits, savings and lending and turning them into a nationwide, socially conscious effort with one primary objective: giving of another kind.
The idea was initiated by Roger Morris, group distribution director at OneSavings Bank, Tim Vigeon, head of lending at Buckinghamshire Building Society and Peter Harte, sales development manager at Mortgage Brain.
Various trade publications including Mortgage Solutions and other industry stakeholders have helped to get it off the ground and build maximum distribution potential.
“Having spoken to brokers about what they want from a new bank, we’ve learned that it is all about how good you are at helping customers in their hour of need,” Morris said.
“So, we’ve modelled this bank purely on the foundations of being truly life-saving.”
He added: “By having the end-customer at the heart of what we do and utilising deposits to the best possible effect, we can really make a difference.”
The bank aims to onboard 30,000 partners by the end of 2022 and is placing a deliberate focus on education.