New UK Digital Bank Exits Stealth

The new company called Vive just received their restricted banking license from the Bank of England; Vive plans to launch their first three products in Q2 2020 which will include unsecured personal loans, a savings account and a money manager app; they are looking to target an area of the market where customers find it difficult to receive banking products; their personal loan offering will be much broader than what it is in the market today; the company first started back in 2017, opting to keep a low profile until now; Vive acknowledges the number of current account offerings offered by their competitors and has decided to not launch with a current account; they will instead start to serve customers with the products they need the most. Altfi

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