Virgin Money, a financial firm under Virgin that offers savings, mortgages, credit cards, current accounts, currency services, pension, investments, and protection products to customers across the UK, recently announced it is set to launch its current account by the end of 2019. Virgin Money reported that the account will utilize money management tools that use CYBG’s B technology.
According to Virgin Money, the current account will “evolve” and include a Virgin-focused rewards program with unique offers and personalized benefits only available to VirginMoney customers. The account also aims to work harder for customers by increasing the current account market share from 2.5 percent to 3.5 percent.
“The rebrand of the B digital bank to Virgin Money will begin in 2019, and is scheduled to complete in the first half of 2020. This includes the rebranding of B’s flagship stores to Virgin Money, while Yorkshire Bank will begin rebrand changes in late 2019 and Clydesdale Bank will begin in the second half of 2020. All Clydesdale and Yorkshire Bank (CYBG) rebranding is expected to be complete by the end of 2021.”
Speaking about the account’s upcoming launch, David Duffy, CEO of CYBG, stated:
“Banking is changing at an unprecedented rate. Consumers are using new technology in every part of their lives. With amazing customer experiences available in other industries, they are rightly demanding so much more from their banks.”
Duffy went on to add:
“We have a clear ambition to disrupt the status quo with the new Virgin Money. The new Group combines the iconic Virgin brand, with its distinctive and brilliant customer experience, with CYBG’s technology, product expertise, and know-how. We believe we have the winning formula that will create a new force in consumer and business banking.”