B-North outsources deposit taking with Newcastle Strategic Solutions
UK-based start-up B-North, which plans to create an SME-only bank, has selected a deposit-taking solution from Newcastle Strategic Solutions.
According to B-North, it will be offering a range of fixed-term retail savings products when it launches in 2020, and will be using Newcastle Strategic Solutions for account opening and account management.
It will be deploying the new system on an outsourced basis. B-North claims that by using the new platform it will be able to make loans available in “as little as 10 working days”.
Jonathan Thompson, founder and CEO of B-North, says that the firm selected Newcastle Strategic Solutions due to its track record as “a proven and highly trusted supplier”.
Phil Grand, managing director for Newcastle Strategic Solutions, adds: “Our focus is on supporting B-North’s deposit-taking by delivering seamless online savings management, and providing an exceptional customer experience.”
Related: B-North aims to bring back brokers to the UK SME market