The new owner of Virgin Money has terminated the bank’s partnership with a digital venture launched by former Barclays chief executive Antony Jenkins.
Sky News reported that CYBG, which also owns Clydesdale and Yorkshire Bank, announced to staff last week that it was in talks to exit a contract with 10x Future Technologies to create an online banking platform using the Virgin Money brand.
However, the move is not entirely unexpected as CYBG chief executive David Duffy had hinted since securing a £1.6bn deal to acquire Virgin Money that it was likely to use its own technology platform, iB.
The completion of the acquisition last month has resulted in the merged companies becoming the sixth-largest bank in the UK, with over 6 million customers, £84bn of assets and £70bn of customer loans.
Latest News
-
Third of UK adults relying on inheritance to fund retirement
-
Govt has failed to act on lifetime ISA recommendations – Treasury Committee
-
‘Fear of rejection’ biggest barrier for one in three aspiring buyers
-
FCA consults on unlimited contactless card payments
-
Tavistock acquires Lifetime Financial Management
-
Consumer finance new business grows 4% in July – FLA
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories