THE BANK OF LONDON
A new, pioneering bank that releases business customers from the constraints of banking, powered by creaky legacy systems which have high risk attached to transfers. BoL combines the best of breeds in compliance and enabling tech. A platform leveraging existing networks, facilitating instantaneous global money transfers for less in a better regulated, more transparent environment. Crucially it’s safe, nullifying the colossal concern of settlement risk.
BoL holds all deposits in full and unencumbered at the Bank of England, keeping them fully available upon demand. In fact, it’s the only bank in the UK to secure 100% of all client deposits unencumbered at the Bank of England.
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"An oligopoly of clearing banks - a mere seventy-two banks across the UK, EU and US - control access to 75% of the world’s spendable money. Powered by creaky legacy systems which have high risk attached to transfers. A percentage of customers classed as competition presents its own sticky conflicts. This stranglehold simply evolved over time and these entities have little motive to nudge things forward, let alone innovate in the sector”.
