Former Barclays executives set up Pennyworth challenger bank for Britain’s “rising prosperity”

Two former Barclays executives co-founded a UK challenger bank, Pennyworth. It is aimed at the country’s “emerging, wealthy” young professionals and middle managers who are busy “climbing the corporate ladder”.

The start-up is in the preparatory phase to become an authorized British bank.

Pennyworth submitted his application in March 2020. The time it took Monument, a British challenger looking to tap into a similar consumer pool, to its limited …

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