Tuesday May 16 2017

Savers have invested over £3bn with new entrant banks through PBF Solutions

Fintech and marketing specialist brings 150,000 new consumers to its UK banking customers.

Savers have invested over £3bn with new entrant banks through PBF Solutions

Financial technology and marketing services specialist PBF Solutions has attracted over £3.1 billion in deposits and on-boarded over 150,000 customers in just over three years for new entrant challenger banks and overseas banks either entering the UK retail banking market or diversifying distribution.

The firm, which counts Axis Bank UK, Bank of Cyprus UK and United Bank UK as clients, has also over the last six months supported the launch of two new banking brands to the market: Masthaven Bank, the UK’s newest challenger bank, and Zenith Bank UK.

Kevin Mountford, CEO of PBF Solutions said: “As UK interest rates remain at an all-time low and with rising inflation, savers are keen to make their money work harder. PBF helps challenger banks make the most of this appetite from savers by delivering a service that drives awareness and makes the process of signing-up and making deposits as easy as possible.  As a result of our continued focus on new-entrant banks, we have raised over £500m in new savings in the last 5 months.”

PBF helps new-entrant financial organisations and challenger banks enter the UK market and attract savers using its specialised online customer acquisition platform, supported by digital product distribution services to drive product awareness and deposits. The platforms, which feature an integrated on-boarding and screening process for online applications, are built on the firm’s in-depth understanding of the user experience and are designed to improve click-through rates, completed applications and accounts funded.

"As a result of our continued focus on new-entrant banks, we have raised over 500m in new savings in the last 5 months."
Kevin Mountford

DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.


Discover the latest Industry News & Opinions on Entirely

We build powerful Financial Models for critical business decision makers.