CivilisedBank (‘the Bank’), the digital SME bank with relationship managers, announces the appointment of Rajan Kapoor to the Board as Non-Executive Director and Chair of its Audit Committee as well as its Remuneration Committee. The appointment brings further expertise to CivilisedBank’s Board ahead of the Bank’s expected launch in 2019.
Rajan Kapoor was Financial Controller of the Royal Bank of Scotland Group (‘RBS’) and held a number of senior finance positions in a 28-year career with the bank.
He has wide-ranging experience across all aspects of banking including external reporting, financial planning and analysis, asset and liability management, taxation and stress testing. In addition, Rajan has extensive experience of financial and regulatory reporting in the UK and US with a strong background in internal financial controls, governance and compliance.
He is a Non-Executive Director and Chairman of the Audit Committee of Charter Court Financial Services Group.
CivilisedBank is building a digital SME bank which will offer business customers access to experienced banking experts, finance solutions and effortless digital banking that make their business lives easier.
Mark Stephens, Chief Executive Officer, CivilisedBank said: "Rajan has extensive experience of finance gained at leading UK financial institutions and he will be a great addition to the Board. CivilisedBank will be unique in providing business specific service excellence from a dependable bank operating on the best of technology, and Rajan’s finance and internal controls expertise will be crucial as we finalise our build phase and prepare for launch."
Rajan Kapoor, Non-Executive Director, CivilisedBank said: "CivilisedBank has a unique offering which, following its launch in 2019, is set to make banking better for the SME market, and I am delighted to be joining the Board. The offer that the bank will provide to SMEs will be truly unique within the current market and I intend to bring my finance experience and knowledge to the Board to support the Bank with all necessary financial and regulatory preparations ahead of launch."
Focused on the UK SME market and funded by SME and retail savings, CivilisedBank will serve businesses through working capital solutions and cash management, including loans, asset finance, savings and payment services. CivilisedBank will also address the UK retail market with a range of savings products.
CivilisedBank was granted a banking licence by the Bank of England in May 2017 and is in the process of building its infrastructure for launch. It released its licence in May 2018 to allow more time to develop its technology platform, and has reapplied for a new banking licence as it moves towards launch in 2019.
CivilisedBank will focus on the UK SME market and be funded by SME and retail savings. CivilisedBank will serve businesses through working capital solutions and cash management, including loans, asset finance, savings and payment services. The bank will also address the UK retail market with a range of savings products.
CivilisedBank aims to make business easier through better banking.