A new bank is coming to the UK, CivilisedBank

A new bank is coming to the UK, CivilisedBank

A new digital bank for UK businesses and consumers, CivilisedBank, has submitted its banking licence to the regulators, Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA).

It expects to receive the licence later this year and to open for business in early 2017.

Set-up and technology

CivilisedBank will not have any branches. It will operate “through a network of local bankers backed by an innovative, yet tried-and-tested technology platform being deployed for the first time in the UK”, it says.

Banking Technology understands that CivilisedBank has opted for a packaged solution from local consultancy firm, Tusmor. It consists of:

  • Profile Software’s FMS.next for core banking operations (this system does not have any sites in the UK);
  • Dovetail for payments;
  • Sphonic for risk management and AML;
  • Aqilla for accounting.

The bank hopes that its “unique, local banker network will help build one-to-one relationships, without the traditional costs associated with high-street banks”. 


CivilisedBank will target UK-based SMEs with businesses current accounts with deposits, transaction banking, overdrafts, foreign currency exchange, investments, savings and loans.

It will also offer savings and investment products to retail customers. 


The management team of CivilisedBank comprises:

  • Christopher Jolly, chairman. Jolly is a seasoned banker having worked for the UK operations of Merrill Lynch, Commerzbank and Société Générale.
  • Gordon Dow, CEO. Dow comes with 25+ years of experience in the retail and private banking in the UK, including at Santander and RBS.
  • Hazel Hellier, chief business development officer. Hellier is a former senior banker at Handelsbanken UK.
  • Mike O’Connor, chief strategy officer. O’Connor specialises in investment management. He moves from London-based Arrowgrass Capital Partners.
  • Fiona Archbold, project manager. Archbold is founder and CEO of the aforementioned Tusmor.

With so many new banks trying to muscle into the UK banking sector, spurred on by the reduced barriers to entry and calls for competition, Banking Technology wonders: will this boom be followed by a bust?

In the meantime, make hay whilst the sun shines! Click here to read our guide to who’s who in the UK challengers space, and what technology they are using.