Barclays execs to launch digital bank for
A duo of former executives at Barclays bank plan to take on the likes of Monzo, Revolut and Starling Bank with the launch of a new digital bank specifcally aimed at “aspiring affluent’ young professionals.
Pennyworth, founded by Jeremy Takle, who was recently advising Klarna on its banking strategy, and Ben Harvey formerly Managing Director and Head of Product at Barclays’ US Digital Consumer Bank, does not yet have a banking license but has begun the process of application.
They began the pre-application process to become an authorised UK bank in March 2020. Beta testing is touted for early 2021.