Bank North has received its banking licence from the UK’s PRA
Bank North becomes the UK’s newest SME bank, having been granted its banking licence by the UK’s Prudential Regulation Authority. The bank will open the doors of its first lending Pod in Manchester later this year, before a managed roll-out across the UK. It will start lending in October 2021, delivering flexible, borrower-friendly and fast-paced support for businesses.
Its model is unique, built on seamlessly integrated, cloud-native banking technology, which powers a network of regional ‘Pods’, where experienced bankers will deliver committed finance to businesses up to ten times faster than the industry standard.