Having already tapped nCino and Mambu to build its technological banking backbone, B-North has now signed another partnership.
The Manchester-based firm building an UK SME lending bank for the UK has picked Newcastle Strategic Solutions Limited to provide its deposit-taking solution.
B-North will use the partnership with the savings management platform provider to be able to open and managing accounts in 2020, when it plans to open.
The opening is depending on the outcome of the banking licence application it has sent in and is expecting an answer to in the first quarter of 2020.
Jonathan Thompson, founder and CEO of B-North, said, “We looked across the market for suitable organisations to support the deposit-taking side of our business after deciding to outsource it and Newcastle Strategic Solutions had the track record and is a proven and highly trusted supplier. By working with Solutions it allows us at B-North to concentrate on developing our truly unique SME lending model.”
Phil Grand, managing director of Newcastle Strategic Solutions, added, “We want to extend a big welcome to B-North, a challenger delivering fast and localised lending to SMEs, an underserved yet vitally important sector of the UK economy. Our focus is on supporting B-North’s deposit-taking by delivering seamless online savings management, and providing an exceptional customer experience.”
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