Pennyworth, a new digital bank, is being launched by former Barclays execs.
The digital bank is aimed at “young professionals and middle managers”.
Founders Jeremy Takle and Ben Harvey worked at Barclays’ US Digital Consumer Bank.
The bank has a waitlist and hopes to get 1,000 customers to beta test.
What does this mean?
The founders have said they aim to target “aspiring affluent” young professionals. The bank recognises this demographic is busy and has complex financial needs so wants to offer a personalised service.