Summer 2019 Issue
> Masthaven Bank:
Challenging the Conventions of Traditional Banking Winner of CFI.co’s Most Innovative Digital Retail Bank in the UK for 2018 and 2019, Masthaven is a bank that does things differently. Blending digital services with the vital human touch, the bank challenges high-street monoliths with simple, useful savings products and clever, innovative features that meet people’s needs.
Masthaven Bank: The Team
M
asthaven launched as a retail bank in 2016. It offers award-winning saving and lending products and is unique in allowing savers to choose when they would like their account to mature.
The bank applies its specialist lending knowledge to the needs of underserved borrowers and their intermediaries, enabling it to give excellent and responsive customer service combined with technology for speed and simplicity. Masthaven’s focus for its customers is to build trust by offering a first-class service, ease of access, and consistently good rates. The bank’s knowledgeable and experienced specialists are committed to providing customers with flexible and fixed term savings accounts, first and second charge mortgages, bridging loans, and development finance. Masthaven eschews the one-size-fits-all approach, adopting a human-digital philosophy
to give customers a banking service they value. Behind this is the recognition that technology is great at streamlining things, but not so good at making lending decisions. Technology cannot be warmly human and empathetic – real people are needed for that. So Masthaven use technology to make things simpler, quicker and easier, and employs friendly, clever people to do everything else. This ethos is borne out by the CFI.co judging panel, who praised Masthaven for “redefining online-only banking” by “rescuing and celebrating the human dimension”. “Online retail banks realise full well that advances in technology may wow customers, but it is the human touch that begets business. Masthaven Bank, on the leading edge of a second wave of disruptor banks seeking to challenge established convention, has put its customers in charge.” The bank is authorised by the Prudential CFI.co | Capital Finance International
Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Register no. 719354). Deposits are protected up to £85,000 by the Financial Services Compensation Scheme. Masthaven was named Best Bridging Lender in the Coreco Awards (2017); Most Innovative Savings Provider in the Moneynet Personal Finance Awards (2017 and 2018); and Best Specialist Lender in the Moneynet Personal Finance Awards (2018). Masthaven Finance featured in 2015’s The Sunday Times’ Virgin Fast Track 100, the annual awards designed to recognise Britain’s top 100 private companies with the fastest growing sales over their latest three years. Masthaven Finance, the bridging division of Masthaven Finance Group, was listed as number 81 in the list of 100 companies. Masthaven Bank was ranked 240 in Financial Times’ FT1000 list (2017). i 77