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Wednesday, February 26, 2020

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New digital bank Vive receives banking licence

Andreea Dulgheru | 17:03 Wednesday 22nd January 2020

New digital bank Vive has received its UK banking licence with restrictions from the Bank of England.

The bank will launch with personal loans, a fixed rate savings account and an Open Banking-based money manager app.

The bank is aiming to fully launch during Q2 2020.

Nick Anthony, Vive at CEO, said: “We are thrilled to have been awarded our UK banking licence with restrictions, a significant milestone to Vive launching as a fully operational digital bank. 

“Our ambition with Vive is to provide simple, straightforward products, built for a digital world.

“Our prospective customers value service, speed and transparency, but also want the best rates available to them.”

Vive is inviting people to sign up as beta testers on its website.

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