Tungsten Bank was acquired by GFG Alliance in 2016, resulting in a change in name to Wyelands Bank and a move to provide commercial lending services to small to medium sized enterprises across the UK. The bank had a vision to enable growth of global trade, by providing finance for receivables, inventory, assets and the supply chain.
Wyelands wanted to be active in the savings market as soon as possible to allow funding to come on stream and support their lending activities. They had ambitious plans for the relaunch of the bank and the introduction of their lending services. Early entry to the savings market was important to the relaunch of their business and the development of their lending.
By accessing our existing infrastructure, Wyelands were able to get to the market more quickly. It was also a cost effective solution. In some respects they were a start-up with many different tasks to perform to get the business re-launched. They relied on the expertise of our people, gained from years of experience in the savings space, implementing an award winning service.