"We very much look forward to further strengthening our specialist mortgage proposition and to launching our very first savings products in the coming days."
- Anth Mooney, CEO of Vida Bank
Vida Homeloans has received PRA and FCA authorisation to become a fully licenced bank and now plans to operate under the new name Vida Bank.
Vida says the milestone offers enhanced opportunities for growth and "the provision of a broader range of services for our customers and intermediary partners".
As a specialist mortgage bank, Vida says it will offer more competitive pricing, expand its product offerings and serve a broader customer base.
In addition to strengthening the mortgage proposition, Vida will soon begin accepting retail deposits, introducing a range of savings products before the end of the year.
Anth Mooney, CEO of Vida Bank, commented: "This is a monumental day for us at Vida having only submitted our application at the beginning of this year. Receiving our banking licence not only validates the hard work and dedication of our entire team but also opens up tremendous opportunities for further growth and innovation. I want to thank our exceptional team for their unwavering commitment in achieving this important milestone and express my personal gratitude to our regulators for their exceptional support and expert guidance during the application process.
"As we move forward, we are committed to maintaining the highest standards in everything we do. We very much look forward to further strengthening our specialist mortgage proposition and to launching our very first savings products in the coming days."
