VTB applies for UK banking licence

Wednesday 20 September 2017 08:50 CET | News

VTB, Russian Federation`s second largest banking group, has applied for a UK banking licence, to enable it to take retail deposits.

The bank has also selected a core banking system to support its new operations once the licence is granted, Sopra Banking Software (with its Sopra Banking Platform) wining the deal. The solution will be supplied on a hosted basis.

The bank has been operating in UK via its multinational investment-banking arm, VTB Capital, but, so far, it did not involve in retail banking.

Earlier in September 2017, another major banking player, Goldman Sachs, unveiled its intentions to move into the UK retail banking market.

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Keywords: VTB, UK, banking licence, online banking, retail banking, Sopra Banking Platform, Goldman Sachs
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech