LHV Bank, the UK's newest licenced bank,  announces a new partnership with the online savings platform Raisin UK. 

In brief:

-This move marks LHV Bank's first step into the personal savings market ahead of the planned launch of its direct-to-consumer savings offering in 2024.

-Funds will be used to support SME lending business line and support UK business

- LHV Bank gained its British Banking license in May this year and turned £1.4m profit in Q2

What does this mean?

Discussing the launch, Raisin UK CEO, Steven Amos, added: Our mission has always been to empower consumers to make informed decisions for their financial future. We do this by providing a range of options in rates and providers that are not typically available on the high street. The partnership with LHV Bank will further raise awareness there are better options available for savers.”