Masthaven Bank has been recognised as the Most Innovative Digital Retail Bank UK 2020 by CFI.co.
Highlights of CFI's judging panel’s findings include:
The judging panel’s full report:
Masthaven Bank: Most Innovative Digital Retail Bank UK 2020
- Masthaven has been providing loans since 2004 and launched in 2016 as a retail bank with a digital focus and a personal touch. It has around 19,000 savings customers with an average retention rate of 70%.
- Masthaven gives customers better control over their money, with fixed-term savings accounts for individuals and businesses in one-, two-, three- and five-year terms.
- It recently increased automated valuation modelling (AVM) for bridging finance and mortgage cases to support customers when physical property valuations were not possible due to lockdown measures. Masthaven’s culture of digital innovation boosted its rapid Covid-19 response, providing unbroken assistance to customers.
Masthaven Bank offers FSCS-protected, flexible, fixed-term savings and personalised, secured lending. Masthaven has been providing loans since 2004 and launched in 2016 as a retail bank with a digital focus and a personal touch. It has around 19,000 savings customers with an average retention rate of 70%.
Masthaven delivers on its promise of straightforward, hassle-free financial products and friendly, customer-centric service. Knowledgeable specialists provide flexible and fixed-term savings accounts, first- and second-charge mortgages, bridging loans, and development finance. The bank’s easy digital onboarding process comes with online calculators to help clients custom-create savings accounts to their specifications, down to the day of maturity. Masthaven gives customers better control over their money, with fixed-term savings accounts for individuals and businesses in one-, two-, three- and five-year terms. For additional control Masthaven’s flexible terms for both individuals and businesses start at six months. All accounts are protected by the Financial Services Compensation Scheme, guaranteeing UK deposits up to £85,000. Masthaven works with professional intermediary partners to extend loans to people from all situations. It recently increased automated valuation modelling (AVM) for bridging finance and mortgage cases to support customers when physical property valuations were not possible due to lockdown measures. Masthaven’s culture of digital innovation boosted its rapid Covid-19 response, providing unbroken assistance to clients.
The CFI.co judging panel presents Masthaven Bank with the 2020 award for Most Innovative Digital Retail Bank (UK).
For further information, please contact:
Tel +44 (0)203 137 3679
Email: [email protected]
About Masthaven Bank
Masthaven launched as a retail bank in 2016 and offers award-winning saving and lending products. Prior to that, Masthaven Finance has provided a flexible and personalised approach to bridging loans and secured lending since 2004.
Today, the bank’s knowledgeable and experienced specialists are committed to providing customers with flexible and fixed term savings accounts, bridging loans, development finance and mortgages.
Masthaven was recognised as 2019’s Most Innovative Digital Retail Bank UK by CFI, the second consecutive win for the category. Masthaven won Best Second Charge Mortgage Lender in the Your Mortgage Awards 2018/19 and Customer Service of the Year in the Money Age Mortgage Awards in 2019. It was also awarded Best Specialist Lender in the Moneynet Personal Finance Awards 2019.
Masthaven Finance has featured in 2015’s The Sunday Times’ Virgin Fast Track 100 (at number 81) and the bank ranked 240 in Financial Times’ FT1000 list published in 2017. In 2020 it featured in Forbes as one of the top 10 fastest growing companies in the UK.
The bank is regulated by the Financial Conduct Authority and Prudential Regulation Authority.
CFI.co is a print journal and online resource reporting on business, economics, and finance. The journal recognises that the traditional distinction between emerging and developed markets is now far less meaningful as world economies converge. Headquartered in London, the world’s most multicultural city, CFI.co covers and analyses the drivers behind that change. Combining the views of leading multilateral and national organisations with thought leadership from some of the world’s top minds – CFI.co’s dedicated editorial team ensures that readers better understand the forces influencing and reshaping the global economy.
About the CFI.co Awards Programme
Each year, CFI.co seeks out individuals and organisations that contribute significantly to the convergence of economies and truly add value for all stakeholders. Reporting from frontlines of economies on the move, CFI.co realises that best practice is to be found throughout the world. The Awards Programme aims to identify and reward excellence wherever it is found. The programme aims to inspire others to further improve their own performance.
69 – 71 Clarendon Road
Hertfordshire WD17 1DS
Phone: +44 203 137 3679
Fax: +44 203 137 5872
Email: [email protected]
e: [email protected]
m: +44 (0)7557 156 967