Virgin Money creates digital business account with partnership with Glasgow IT provider
Virgin Money has announced a strategic IT partnership with Glasgow-based Redspire to support the development of its digital proposition for its new business current account.
Redspire’s Customer Engagement and Intelligence Platform will help develop new digital solutions as part of Virgin Money’s pledge to the recent Â£ 35million prize from the Banking Competition Remedies Capability and Innovation Fund.
Virgin Money has created a ‘Working Capital Health’ proposal, which aims to transform its existing business checking account into a financial well-being tracker for small businesses, providing insight into the working capital cycle , supported by proactive relationship management and an ecosystem of capacity partners.
Redspire is the second of those partners to be announced, working alongside the bank’s key strategic technology partner, Microsoft.
Gavin Opperman, Group Commercial Director at Virgin Money, said: âFollowing our successful application to the BCR Capability and Innovation Fund, we have moved forward with Virgin Money Business, which will be ready to launch in early 2021.
âCollaboration is the key to our success and I am delighted to welcome Respire to our extended team.
Redspire Managing Director Billy Lyle said: âIt has been a year like no other for any business in the UK, but Virgin Money has shown real adaptability and resilience, as well as a commitment to provide its customers.
âYears of digital transformation have taken place in months rather than years in 2020, so my team is excited to continue to make meaningful change with the unlimited power of the Microsoft stack. ”