CivilisedBank, a digital banking startup, announced today the appointment of its first CIO. Simon Bateman joins from the banking division of Harrods, the luxury retailer.
Last May CivilisedBank gained a banking licence, which it returned to the Bank of England this May. The bank is preparing for launch and released the licence, it claims, to “allow more time to develop its technology platform, before subsequently reapplying for a new licence”.
When it launches CivilisedBank will be an SME focused bank and says it will be funded by SME and retail savings and will offer loans, asset finance, savings and payment services.
Bateman brings a wealth of banking technology leadership experience to the startup. He has been with Harrods Bank for just over two years where he was responsible for improving system availability, automating legacy systems and processes and worked on the operational costs and customer experience.
Bateman joined Harrods Bank from Aldermore Bank where he was Transformation Director and then Head of IT in a career from 2011 to 2013.
CivilisedBank said Bateman will be leading the system refresh that was cited in the release of the banking licence. In a statement in April, Chris Jolly, non-exec chairman of CivilisedBank said the bank will “reapply for a banking licence rather than try to rush through our current IT development phase”.
“The SME market has long been underserved by the incumbent banking providers…and being part of the team offering something genuinely new,” Bateman said in a statement.
In October CivilisedBank appointed CTO Andrew Holmes, who joined from the Silicon Valley Bank where he’d been since April 2012 in a range of leadership roles.
CivilisedBank is being backed by Chelsea, London based Warwick Capital Partners an investment management firm.
Earlier this week fellow startup bank Monzo recruited CTO Meri Williams.