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You are here:  Media centre  >  News and opinion  >  2016

Announcing “B” - the new face of banking

30th April 2016

B, a new digital banking service powered by Clydesdale and Yorkshire Banks, will be unveiled next week and is set to challenge traditional banking services by transforming the way customers manage their money.

Launching on 3rd May, B brings together a best in class digital platform, a suite of new products, customer driven design and the support of over 175 years of banking history to deliver a service that lets customers take control of their finances no matter where they are.

Its launch follows extensive research among 10,000 potential users over two years which revealed customers wanted a banking service that was simple, intuitive and designed to make managing money as easy as possible to carry out on the move.

Research by the BBA shows that digital mobile is now the most common method for people to carry out banking transactions (see Editors’ Notes). However, as part of the B design process, the feedback was that existing banking apps failed to live up to the service and experience offered by the kind of lifestyle apps people download and use every day.

Using this extensive feedback from potential users, the B ’app’ has been built from the ground up. It offers a range of interactive tools designed to give users control of their money on their terms; taking the fear out of finance, enhancing their lives without compromising their lifestyle.

The launch of B represents the first major initiative for CYBG PLC since the company’s IPO in February this year. B signals the importance of innovation in the company’s growth strategy, and forms part of a wider omni-channel strategy across the business using digitisation to deliver better, sustainable services for customers.

Helen Page, Propositions and Marketing Director, said:

“B represents a challenge to other banks and, most importantly it’s ready to go now, based around an app that has been extensively tested and trialled - we know it’s what people want.

“It was clear from our research that people want something a bit different that is more intuitive and that helps them run their lives. Over 10,000 people told us what they wanted from a bank; to take the hassle out of money and make life a bit easier. We listened, learned and took their advice throughout the process to create B - a product designed by customers for customers.”

B will launch across both the Android and iOS platforms, with functions to give customers control over their money, such as setting up multiple savings pots, tagging and tracking specific elements of spending, to automatically sweep cash between current and savings accounts, and offset savings balances against a mortgage. B also “learns” as it is used, so the more it’s used the more tailored the experience becomes.

B’s Key Features

  • App available for Android and iOS devices
  • Fee-free for the first year, then £2 per month
  • B Current and Savings Accounts available from launch
  • Account opening online, in branch or over the phone
  • 2 day grace period on overdraft fees
  • Savings goals, planning and budgeting tools
  • Automatic balance sweep to B current account
  • Multiple savings “pots” for different goals
  • “Good to go” alerts – letting users know their balance will cover regular spending and predict surpluses that could be swept to savings
  • Hints and tips to help users get the most from their money
  • Dedicated UK-based telephone banking team
  • Branch support at Clydesdale Bank and Yorkshire Bank

Initially, B consists of the B app, the B Current Account and a B Instant Savings Accounts, but will grow and adapt to meet changing customer demands, with new products, services and functionality.

B also caters for existing Bank customers, who can use the new app to view and manage not just their B accounts, including loans and credit cards, but also any Clydesdale or Yorkshire Bank accounts, and have the option to offset savings against a mortgage.

Users of B will have the back-up of the Clydesdale and Yorkshire Banks’ branch network, and a dedicated Freephone, UK call centre for any queries or transactions that cannot be carried out online.

B will be supported by a fully integrated multi-media advertising campaign that will encompass print, social and broadcast media. A new “B” TV ad will appear on screens this summer.

Customers will be able to find more detail about B at, or at any branch of Clydesdale and Yorkshire Banks.