Britain’s Newest Bank, thisbank, Launches with a Focus on Investor Growth and Competitive Savings Rates

WHY THIS MATTERS: The UK financial landscape continues its evolution, but the emergence of a newly-minted bank boasting a billion-pound balance sheet and pre-profitability in less than a year signals a crucial turning point. For years, the narrative in digital banking has focused on rapid customer acquisition at the expense of sustainable unit economics. This new entity, forged from a revitalisation and backed by significant investment, flips that script. Its rapid growth, driven not by aggressive spending but by a clear focus on customer-focused savings and specialist asset origination, positions it as a genuine disruptor to the legacy institutions. The emphasis on real, human-to-human interaction in a technology-forward environment challenges the notion that all new financial services must be purely automated. This achievement in neobank profitability demonstrates a mature pathway for challengers and demands attention from both established players and emerging fintechs.

A new name has arrived in UK banking. thisbank has officially launched as a British bank, transforming from a new entrant to one of the UK’s most trusted savings providers in less than 12 months. It has grown assets under management 12x, now looking forward to moving significantly north of its billion-pound balance sheet and achieving profitability in under one year.

Built from the ground up, the transformation and launch under the new name has a clear focus on sustainable growth, a strong investment strategy, and human-centric customer service, thisbank has earned a reputation for innovation and simplicity that is reshaping customer expectations in modern banking.

thisbank was created by revitalising the UK arm of JN Bank under new leadership and ownership. Now backed by UK and US investment, a new leadership team from some of the biggest names in banking, the bank combines deep industry expertise with a distinctly British outlook.

Chris Waring, CEO of thisbank, said, “We’ve built a profitable, fast-growing bank in under a year. Our strategy is clear, deliver customer-focused savings rates, invest in specialist assets where others can’t compete, and never lose sight of the fact that banking is about people, not just numbers.”

Under the leadership of CEO Chris Waring, who brings extensive experience from Lloyds, Barclays, and private equity, and Chief Transformation Officer Declan Halton-Woodward, a former private banker and senior public servant, thisbank is designed to serve everyday savers with clarity, fairness, and a human touch.

At thisbank, humans are the priority. Customers can always speak directly to a person, ensuring a banking experience that respects the complexity of real life.

The bank offers a range of easy access and fixed-term savings products, with competitive rates across 2-, 3-, 4-, and 5-year deposits, raising hundreds of millions of pounds in new deposits, with a minimum deposit starting at £1 and a maximum of £500,000.

Declan Halton-Woodward, Chief Transformation Officer, added, “thisbank is built around people. Humans are complex, so we make sure our customers can always speak to one of ours. While we are technology forward, our approach will always be customer-first.”

thisbank’s investment approach focuses on specialist assets and portfolios, areas that require dedicated expertise and careful attention, setting the bank apart in today’s competitive mainstream market.

Chris Waring concluded, “We don’t just want to follow the market, we want to deliver what our customers need. Our promise is simple – competitive, sustainable savings for customers”.

FF NEWS TAKE: This launch moves the needle significantly by validating that a focus on disciplined, profitable growth in core retail banking can achieve rapid scale in the UK. The industry should watch the next phase of its specialist asset strategy closely—it’s here the bank can truly differentiate itself and maintain its margin advantage. The blend of experienced leadership from traditional finance and a modern, customer-first mandate suggests a model built for endurance, not just spectacle.