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0:00
I'm Will Beeson, Head of Operations
and Innovation at CivilisedBank,
a start up SME focused
bank in the UK.
And, this is a case study
on some of the early work
that we've done, specifically,
in developing our launch strategy
and identifying the
market opportunity that
we were looking to capitalize on.
0:27
A quick bit of background on
CivilisedBank for context.
We are nearing obtainment
of a banking license,
working together
with the two banking
regulators here in the
UK, the PRA,
Prudential Regulatory Authority, and the
FCA, Financial Conduct Authority.
We're planning to launch in 2017,
within the next six to nine months
or so.
The bank's initial focus will
be on SME lending, relationship
management for SMEs, supported
by full service lending function,
and we will also offer
online retail deposits.
CivilisedBank intends to launch
with a simple, easily understandable
product range which will include
SME loans and overdrafts,
SME and retail savings
products,
business current accounts, and cards
connected with those accounts.
That products set
will allow us to engage
SMEs around the core elements
of financial management.
After launch, we will slowly expand
the product set based on customer
requests to cover such products
as asset and invoice finance,
cash management, FX, and more.
The strategy is that we will be
leveraging great new technology
to liberate our
relationship managers
from the traditional
confines of a branch.
So CivilisedBank
will be branchless.
And, I'll make that
point now, and make
it again probably a couple times
throughout the course of the talk.
Our opportunity is to leverage
technology, not simply to create
a better online and
mobile app or website,
but actually to use technology,
to leverage technology,
to enhance the level of
service and personal touch
that we're able to
offer to SME customers.
