Masthaven has launched as a digital bank. The bank will offer savings and lending products, saying it is committed to offering what people want, not just what is available. Masthaven says at the heart of the bank is a people business –  which at launch sees 80% of employees already shareholders in the business.  Access to this expert team, combined with straightforward digital services, means Masthaven will offer what it calls human digital banking.

In a world of traditional banking, where customers must tick boxes and match algorithms, Masthaven’s team of specialists use smart technology to help customers and intermediaries either hit their savings goals or make lending decisions with personalised products.  Having been awarded the first 2016 retail banking licence this  April, Masthaven has spent the subsequent months forming  a strong team approaching 100 people, building its technology platform and road-testing its products with customers.

Commenting on the bank’s launch, Jon Hall, Managing Director, Masthaven, said “Today marks the beginning of an exciting new chapter in our journey, and I am delighted to open the digital doors of this fantastic new challenger bank.  We know everyone has different financial needs and that’s why we are providing products that our customers want, not just products that banks have always had available.  Our unique blend of human digital banking combines intelligent people who really care, with technology to ensure both customers and brokers can interact with us in the way that suits them.  We are proud to be part of the banking revolution – looking beyond convention to give individuals what they want from their bank.”

Andrew Bloom, Founder & CEO, Masthaven, said “We are determined to help more people access financial products that will truly meet their needs.  We have established a fantastic and dedicated team of experts to get the bank to launch and we are now very much looking forward to working with customers and brokers to show them what we have created.  As we look forward, there are many new opportunities for businesses like ours to evolve and grow and support more people in the future.”