‘The Services Family’ is founded by two military veterans and is based on the culture and behaviours of public and military service. The business will offer tailored products to armed forces personnel, veterans and their families – groups with high mobility who have traditionally faced difficulties in gaining access to full financial services.
Sopra Banking is a subsidiary of the Sopra Steria Group, a digital transformation provider, with more than 38,000 employees. In 2015, Sopra Steria Group achieved a turnover of EUR 3.6 billion. Sopra Steria will manage the full banking and nonbanking services for ‘The Services Family’, enabling TSFL to focus on their business strategy and development.
‘The Services Family’ plans to open for business by Q4 2016 and introduce customer services in a phased plan in step with regulatory permissions and platform delivery. The intent is that ‘The Services Family’ will commence trading as a mortgage provider and progress towards the final objective of being a fully licensed retail bank in 2017.
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