Virgin Money to Launch SME Savings Account in 2018

UK challenger bank Virgin Money has plans to step into small business banking with an SME account to be launched in 2018, according to the bank.

The account will be launched in January of the new year, bank CEO Jayne-Anne Gadhia said yesterday, adding that the account will “enable us to start developing relationships with business customers and lay the foundations for potential broader future development in this attractive but poorly served market.”

Virgin Money’s launch of the account comes after earlier plans to move into the SME market were stalled due to events like the Brexit.

Read more at PYMNTs, the Financial Times.