Virgin signs up Redspire for business account project
Virgin will be flying the flag for SMEs (pic: Terry Murden)
Virgin Money, the Glasgow-based bank, has announced a partnership with local fintech company Redspire to help it build a significant presence in the business current account market.
The bank is transforming its existing business current account offering into a financial “wellness tracker” for SMEs and Redspire will work alongside Microsoft to develop digital solutions.
The plan is to launch Virgin Money Business next year with a target of 100,000 SME customers by the end of 2025 (20,000 by the end of 2022).
Backed by additional large-scale investment, Virgin believes the group can become a disruptor in the SME banking market.