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<\/p>\nBritain has a new bank entering the market today, promising savers a different approach to customer service alongside competitive interest rates.<\/p>\n
Thisbank has officially launched in the UK, offering fixed-term savings rates of 3.99 per cent and an easy access rate of 3.76 per cent.<\/p>\n
The new provider said it aims to distinguish itself by prioritising human interaction rather than relying heavily on automated systems and algorithms.<\/p>\n
The bank is positioning itself as an alternative to traditional and digital-first lenders, where customers often struggle to speak directly to staff.<\/p>\n
Its launch comes at a time when many high street banks are scaling back branch networks and reducing face-to-face customer service.<\/p>\n
Thisbank is offering fixed-term savings accounts across one-year, two-year and five-year terms, all paying the same 3.99 per cent rate.<\/p>\n
Its savings proposition is designed to remain consistently competitive rather than relying on short-term introductory offers, which is intended to reduce the need for savers to frequently move money between providers in search of better rates.<\/p>\n
The bank is led by Chris Waring, who brings experience from senior roles in major UK lenders and private equity.<\/p>\n
New provider enters UK market with competitive rates<\/p>\n
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He previously worked at Lloyds Banking Group and Barclays before joining the new venture.<\/p>\n
Since its formation, Thisbank has expanded rapidly, growing its assets under management by a factor of 12.<\/p>\n
The bank said it now holds a balance sheet worth more than \u00a31billion and plans to continue expanding beyond that level.<\/p>\n
It has also reported achieving profitability in under a year, a milestone that is uncommon among newly launched banks.<\/p>\n
Mr Waring said: “We’ve built a profitable, fast-growing bank in under a year, but this is only the beginning”.<\/p>\n
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It has also reported achieving profitability in under a year<\/p>\n
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The bank is backed by a mix of British and American investors.<\/p>\n
It was formed through the relaunch of the UK arm of JN Bank under new ownership and leadership.<\/p>\n
Thisbank said it focuses on specialist lending and savings products where it believes larger competitors are less able to operate effectively.<\/p>\n
The bank\u2019s leadership said its strategy is designed to balance sustainable growth with customer-focused service.<\/p>\n
Mr Waring said: “Our strategy is clear: deliver customer-focused savings rates, invest in specialist assets where others can’t compete, and never lose sight of the fact that banking is about people, not just numbers”.<\/p>\n
The bank\u2019s Chief Transformation Officer, Declan Halton-Woodward, said the lender aims to serve customers who may not fit standard banking profiles.<\/p>\n
The former private banker said: “We understand humans are complex \u2013 from the self-employed to the retired \u2013 not everybody fits in the ‘mould’ required by the high-street banks \u2013 that’s where this can help”.<\/p>\n
Industry commentators said the arrival of a new savings provider could increase competition across the market.<\/p>\n
Adam French, head of consumer finance at Moneyfactscompare.co.uk, said new entrants can help drive better outcomes for savers.<\/p>\n
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Data from Moneyfacts shows the average savings rate has remained below inflation for nine consecutive months<\/p>\n
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“The launch of a new bank offering inflation-busting savings rates is welcome news, especially with many competitors’ accounts failing to keep pace with rising prices”.<\/p>\n
He said data from Moneyfacts shows the average savings rate has remained below inflation for nine consecutive months.<\/p>\n
Mr French said this has made it difficult for savers to achieve positive real returns on their deposits.<\/p>\n
He added new providers such as thisbank can help keep established banks competitive and encourage stronger savings rates across the sector.<\/p>\n","protected":false},"excerpt":{"rendered":"Britain has a new bank entering the market today, promising savers a different approach to customer service alongside…\n","protected":false},"author":2,"featured_media":385779,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,1431,2222,50,3668,2331,56,54,55],"class_list":["post-385778","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-inflation","tag-money","tag-news","tag-savings","tag-sgg","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/385778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=385778"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/385778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/385779"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=385778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=385778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=385778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}