Masthaven Bank: Best Customer-Centric use of Financial Technology UK 2020

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Masthaven Bank has been recognised as offering the Best Customer-Centric use of Financial Technology UK 2020 by CFI.co. 

This is Masthaven's second CFI award in 2020, the bank also being named Most Innovative Digital Retail Bank UK 2020.

The judging panel’s full report:

Digital advances have brought flexibility and customisation to banking. Masthaven Bank, founded in 2004, has harnessed those advances to deliver a suite of solutions marked by speed, convenience and security — without sacrificing the human connection and a personal touch.

Customers can apply online — via an easy onboarding process — for fixed-term savings accounts, with custom-set maturity dates from six months to five years. The bank also works with brokers to offer first- and second-charge mortgages, bridging loans and development finance.

In response to client demand during the pandemic, Masthaven announced a limited-edition range of fee-free remortgages, including first-charge residential two-year and five-year fixed remortgage products.

It details its customer commitments in a charter that promises personalised, professional and timely responses to all requests. Masthaven team members listen to client concerns, and offer honest feedback as well as the expertise to resolve any pain points.

The bank is fastidious in the protection of clients’ personal information and forthright in the prevention of fraud and cybercrime. Masthaven pledges full transparency in its decision-making processes, and explains outcomes in straightforward terms. It seeks continuous improvement by soliciting customer feedback to drive development, and is quick to correct any oversight.

At Masthaven Bank, customer service is personalised, and client funds are protected — guaranteed up to £85,000 by the UK’s Financial Services Compensation Scheme.

The CFI.co judging panel presents Masthaven Bank, a repeat winner, with the 2020 award for Best Customer-Centric use of Financial Technology (UK).

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. 

About CFI.co
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.
 
Contacts
CFI.co

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Phone: +44 203 137 3679
Fax: +44 203 137 5872
Email: [email protected]
Web: www.cfi.co

Masthaven Bank
Taneesha Pawar
Rostrum
e: [email protected]
m: +44 (0)7557 156 967
w: www.rostrum.agency