New Digital Bank Vive Receives Banking Licence

UK digital bank Vive has received a banking licence with restriction from the Bank of England. Vive is will be offering personal loans and fixed-rate savings account and launching with an Open Banking-based money management app.

It was announced in September 2019 that Vive is using Starling Bank partner Bottomline Technologies for its faster payment processing. Vive is targeting a full launch during Q2 of 2020.