The neobank will focus more on established companies, rather than on startups, with a turnover of up to GBP 25 million. The relationship-banking model is similar to Sweeden’s Handdelsbanken.
The branch-free bank plans to launch in 2018 with a set of financial services that include savings, loans and overdrafts. Furthermore, the lender aims to provide business current accounts to track cash flow, which is essential for lending assessment.
CvilisedBank is currently negotiating a partnership with a traditional bank in order to allow business to make cash deposits and carry out other banking activities
The company plans to have up to 80 bankers, in the next five years, who will provide services in all UK major towns.
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