LHV Bank joins Flagstone for its Personal Savings products

Tuesday 5 December 2023 14:00 CET | News

LHV Bank, a newly UK-licensed bank, has announced that its Personal Savings products are now available on Flagstone, a cash deposit platform in the UK. 


As stated in the official press release, both organisations share a like-minded digital-first heritage, with a focus on delivering a streamlined and accessible customer experience. The Flagstone platform will be a key channel to market for LHV Bank ahead of the planned launch of its consumer savings offering via its own channels in 2024.

LHV Bank, a newly UK-licensed bank, has announced that its Personal Savings products are now available on Flagstone, a cash deposit platform in the UK.

By partnering with Flagstone, savers have access to the competitive range of LHV Bank’s personal savings products, delivered through a superior digital experience. The deposits from savers will be used to fund our core business – SME lending – and drive economic growth by providing entrepreneurs with the finance they need. LHV Bank has already grown its deposit portfolio to GBP 200 million since receiving its banking licence in May of 2023. 

Flagstone recently announced that it topped GBP 10 billion for Assets under Administration (AUA) and this AUA is now increasing by a further GBP 1 billion per quarter. With a customer base of 600,000, it will be an important partner for LHV Bank as the bank builds its Personal Savings portfolio. 

Flagstone’s fintech-driven platform has been designed over many years based on feedback from thousands of customers. The Flagstone platform seeks to offer customers the flexibility, visibility, and ease of use they want to get great returns on their savings, all while ensuring they can access the widest possible choice of savings that are available through a savings platform.  

More about LHV Bank 

LHV Bank, a fully licensed UK bank, specialises in providing Banking Services for global fintechs, SME lending solutions for UK businesses, and personal savings through partnerships with Flagstone and Raisin UK. The SME Lending division offers commercial real estate investment loans and trading loans from GBP 0.5 million to GBP 5 million to small and medium-sized businesses in the UK.  

As a banking services provider, LHV Bank delivers a wide range of services, including real-time multi-currency payments, accounts, acquiring, indirect scheme access, Open Banking, and FX solutions. Over 200 fintech companies utilise LHV Bank to serve more than 10 million end customers and to access a pool of 500 million potential customers across the UK and Europe. 

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Keywords: online platform, partnership, personal finance management, banking
Categories: Banking & Fintech
Companies: LHV Bank
Countries: United Kingdom
This article is part of category

Banking & Fintech

LHV Bank

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