A Civilised approach to banking?


A banking challenger for small and medium-sized business customers is aiming to raise £10m in funding ahead of a launch this year.

CivilisedBank will operate through a branchless network of local bankers backed by a technology platform being rolled out for the first time in the UK.

The bank will focus initially on small and medium-sized businesses and their owners, offering both business and retail banking products and services. Its branchless local banker network will support community banking and help build one-to-one relationships, without the traditional costs associated with other banks.Barclays, Lloyds Banking Group, HSBC Royal Bank of Scotland and Santander currently control 85 per cent of small business banking.

Later, Civilised will attempt to break into the retail market.

Chairman Chris Jolly said: “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.”