British savers are poised to gain a fresh option for managing their finances with the introduction of a new digital-only banking entity. The newly launched institution, named thisbank, aims to distinguish itself by offering competitive savings rates alongside a strong emphasis on personalised customer relationships.
A Human-Centric Philosophy in a Digital World
Chris Waring, the Chief Executive Officer of thisbank, articulated the core mission of the venture. "We have constructed thisbank with people at its heart. Although we are technologically advanced, our methodology will perpetually prioritise the customer. Our objective is to furnish sustainable value and a service experience that feels genuinely human, rather than merely transactional," he stated.
"Our strategy is unequivocal: deliver savings rates focused on customer benefit, invest in specialist assets where competitors cannot match us, and never forget that banking fundamentally concerns people, not just numerical figures," Mr Waring elaborated to The Independent. "We aspire not merely to follow market trends but to provide what our customers genuinely require. Our pledge is straightforward: competitive, sustainable savings for our clientele."
Bridging the Gap with Personalised Support
In an era where physical bank branches continue to diminish across the United Kingdom, thisbank will operate without a traditional high street presence. However, the bank commits to offering accessible support. Clients will be able to reach customer service via telephone, with employees based in London.
"Our people-first ethos involves recreating the human-to-human interaction historically found in local bank branches, adapted for contemporary needs," explained Mr Waring. "We concentrate our team's efforts on ensuring the customer journey is as refined, straightforward, and user-friendly as possible. It is also about guaranteeing our customers are never more than a single selection away from a human representative at our call centre—individuals who are adequately trained, passionate, and sufficiently understanding to resolve any issue."
Declan Halton-Woodward, the Chief Transformation Officer, reinforced this sentiment. "We comprehend that humans are complex—from self-employed individuals to retirees—not everyone conforms to the 'mould' demanded by traditional high-street banks. That is precisely where our service can provide assistance," he remarked. "Whether online, via email, or by phone, our customers will receive a service tailored for them, not an AI chatbot. Our staff treat your money with greater care than their own, because it is precisely that—yours—and it must function effectively for you."
Competitive Savings Products Launching
Commencing operations, thisbank will provide savers with an easy-access account offering a 3.76 per cent interest rate. Additionally, fixed-term savings deals spanning one to five years will yield a steady 3.99 per cent annually. The bank has indicated that further financial products, including Individual Savings Accounts (ISAs), are likely to be introduced in the future.
While these rates may not currently represent the absolute pinnacle of the easy-access savings market, thisbank intends to maintain a position consistently among the leading contenders. The strategy avoids the common industry tactic of attracting savers with initially high rates only to reduce them later, which often forces customers to remain vigilant and switch providers when introductory bonuses conclude. Instead, the bank plans to combine reliable, competitive rates with its hallmark customer service as its defining characteristics.
Market Context and Operational Background
The current landscape for easy-access savings sees entities like Chase and Revolut offering some of the best available rates. Meanwhile, institutions such as First Direct and Monzo have frequently ranked highest in customer satisfaction surveys, highlighting the competitive environment thisbank enters.
This new banking venture effectively emerges from the UK division of JN Bank, which has now been sold. It operates under new leadership and with fresh investor backing, functioning as a fully licensed British bank authorised to offer services across the nation.
The launch of thisbank represents a continued evolution in the UK's financial services sector, where digital innovation is increasingly paired with a renewed focus on customer-centric values and sustainable banking practices.
