Chetwood Financial has secured a full uk banking licence , following a £ 40 m ( $ 150 m ) investment from hedge fund Elliott Management as part of a £ 150 m equity commitment agreed last year . The Welsh savings bank offers the LiveLend Reward Loan , which measures its lending rates according to improvements in a customer ’s credit rating , and it aims to introduce a savings product in the coming months . Chetwood aims to differentiate itself from the traditional banking model of “ owning customers ” , and will focus on customer satisfaction currently under - served by existing financial institutions .
Chetwood Financial has secured a full UK banking licence, following a £40m ($51m) investment from hedge fund Elliott Management as part of a £150m equity commitment agreed last year. The Welsh challenger bank offers the LiveLend Reward Loan, which adapts its lending rates according to improvements in a customer’s credit rating, and it plans to introduce a savings product in the coming months. Chetwood aims to differentiate itself from the traditional banking model of “owning customers”, and will focus on customer groups currently under-served by existing financial institutions.