With a number of new challenger banks gaining attention over traditional banks, there’s a lot to consider before opening a business bank account.
Monzo Bank has launched overdrafts for account holders after the challenger announced it had reached a milestone of 500,000 customers just one month ago.
Metro Bank has sought to provide its SME customers with access to a wealth of bespoke advice and resources by partnering with the Forum of Private Business (FPB).
Having only been in the job a few months before overseeing an ambitious £154m institutional funding round, Cristina Alba Ochoa explained her approach to the process and what it’s like working for OakNorth Bank, a challenger financier.
In a market dominated by new entrants, Starling Bank has followed up what it it called Britain’s first mobile-only current account with a business offering.
All businesses have costs, and sometimes getting a scale-up off the ground requires a cash injection. Not everyone is lucky enough to have the bank manager on their side though so where else can you turn”
OakNorth has appointed a new CFO as it approaches the £500m lending milestone, while it plans to unlock access to finance for many more entrepreneurs this year.
While the disruption of financial services has been going on for a number of years now, the capital banked by four of the most advanced digital challenger banks is hugely significant.
Metro Bank has started the New Year with an immediate push for new customers by pledging a £1bn fund for British businesses.
High street banks must have known it was coming, but a new report from the Competition and Markets Authority (CMA) has put some firm dates for technical innovation in place – and some banks may be led kicking and screaming into a brave new world.
Currently, there is over £164bn in small and mid-sized enterprise cash deposits in the UK, according to the latest figures from the British Bankers’ Association (BBA) – but what should businesses be doing to make the most of the funds
Challenger bank Mondo, which is mobile-first by design, is in the midst of a £6m hybrid investment round and wants customers to become investors by contributing £1m through equity crowdfunding service Crowdcube.