Wyelands Bank

Activating saving accounts and launching end-to-end services in record time.

Lady in call center

Tungsten Bank was acquired by GFG Alliance in 2016, resulting in a change in name to Wyelands Bank and a move to provide commercial lending services to small to medium sized enterprises across the UK. The bank had a vision to enable growth of global trade, by providing finance for receivables, inventory, assets and the supply chain.

The Challenge

Wyelands wanted to be active in the savings market as soon as possible to allow funding to come on stream and support their lending activities. They had ambitious plans for the relaunch of the bank and the introduction of their lending services. Early entry to the savings market was important to the relaunch of their business and the development of their lending.

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Our Solution

Without existing capability to provide savings services, Wyelands needed to access our end-to-end savings management services for all operational and customer support.

Lady in call center

By accessing our existing infrastructure, Wyelands were able to get to the market more quickly. It was also a cost effective solution. In some respects they were a start-up with many different tasks to perform to get the business re-launched. They relied on the expertise of our people, gained from years of experience in the savings space, implementing an award winning service.

Our Services

Results

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By working together, the bank launched into savings in August 2017, with their customers able to apply for savings accounts and manage their money online, through our internet banking platform.

By the end of 2017, when the bank was celebrating its first birthday, it has amassed a loan book of 600m and over 15000 savings customers.

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