A Founder’s Journey
Often people ask what put us on our journey to building a civilised bank. Now that we’ve submitted our banking licence application to the UK Regulators, we wanted to share that story – a short History of CivilisedBank.
This animation takes you through the events that have been the catalyst, that made us want to do things the Civilised Way. It begins during the 1990ies recession that brought about property repossessions, a most harrowing and uncivilised experience for all concerned. While the animation ends with the major milestone of the banking licence application that we’ve just passed, it certainly doesn’t end here.
Booms and busts are part of the economic cycle but we want people to be able to rely on CivilisedBank for a fair and civilised service.
Keep updated about our progress towards launching CivilisedBank.
It began in 1994. Property repossessions caused distress and ruination of real people’s lives and dreams, as well as economic and physical destruction. They seemed unnecessary, uncivilised. The journey started here.
Late 90s to 2000s Dotcom Boom & Bust
In the late 1990s the dot com bubble presented both an opportunity to dream, and to create the future. Stock valuations decoupled from reality but economic reality came with a stark reminder: bubbles always burst! A new generation learned some hard lessons.
2007/8 Financial Crisis Bubbles & Crunches
My son’s birth wasn’t the only life changing event of 2007.
Economic reality struck again after another credit fueled bubble burst, with severe consequences for many.
Major banks collapsed whilst others were bailed out. Countries like Greece and Ireland were brought to the brink of bankruptcy. For businesses and people there was little or no relief. There had to be a better way; one where technology could remove the huge costs of banking, and relationships once again were the foundation of business.
The word CivilisedBank was first written, the list of requirements to create it seemed impossible, but the need for banking to become civilised was crystal clear.
2011 Launch of CivilisedMoney
While the Great Financial Crisis continued into the new decade, Alternative Finance companies leveraged technology to carry out some traditional banking operations cheaper, better, faster.A vision for a one stop ‘Alternative Finance’ platform took shape and CivilisedMoney was launched with the support and enthusiasm of many.But it was clear the financial crisis had hit economies, businesses and people hard. Making banking and money more civilised called for a bigger vision.
June 2014 The Idea of CivilisedBank takes Shape
This understanding was also shared by the UK Government, The Treasury and Regulators; a commitment from them to make it easier to launch a new bank saw the idea for a civilised bank revived, a team of passionate entrepreneurs and bankers were brought together, and with the backing of some visionary investors CivilisedBank began to turn from an idea into reality.
2016 CivilisedBank submits Application for Banking Licence
We reached a major milestone when we submitted our application for a banking licence. The journey continues.
2017 CivilisedBank plans to launch to serve UK businesses and savers
We’re now working towards a launch in 2017, when we’ll begin to serve UK businesses and savers in a truly civilised way.