Bank Systems & Technology just alerted me to the fact that Virgin Money has opened as a wholesale mortgage market for US mortgage brokers. From their website:
"What does Virgin Money do for mortgage
originators like me?
"We give you products to sell — competitive
mortgages made attractive with a brand that US borrowers see as fresh, honest
and innovative. Sounds good in these times. We can also do your
processing."
A great time to open up a new operation, as many P2P Social Lending sites will testify right now.
Equally, in the UK, there are many new bank or banking related launches:
- several new council (local government) operated banks;
- the new Cambridge Bank; Metro Bank launching later this year;
- a fully-fledged Tesco Bank;
- the mobile banking service, MoBank;
- the "People's Bank" from the Post Office;
and more.
With traditional banks on the ropes, what better time to launch and hit them a sucker punch?
p.s. thanks to Neil Burton for assisting with the list of new UK banks
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
