Masthaven Bank wants to lend by the end of 2016.
New digital lender Masthaven Bank is intending to start lending and taking deposits before Christmas.
Speaking at the Mortgage Business Expo 2016, managing director Jon Hall said: "ideally we want to be taking deposits and lending before Christmas. We intend to launch mortgages in the New Year. Hopefully we'll have a few surprises that a worth waiting for."
Highlighting the importance of technology, transparency and a personal approach to lending decisions Hall underlined the need to be flexible and respond to customers' needs.
He said: "Launching a new bank requires an entrepreneurial attitude and flexibility. The ability to tailor and be flexible to any circumstances is crucial, and of course it's about meeting regulatory challenges and raising the bar.
"This is the age of the customer, and we want them to get what they want, rather than what is available to us. You can use technology to tailor the experience and allow clients to adapt deposits or loans to their own needs, followed up by a friendly, personal approach."
Hall added: "We're in the final stages of testing, working with the PRA and FCA to let them know - and confirm - when we are ready to launch.
