Deloitte's Market Gravity helps CYBG develop B Works proposition

Deloitte subsidiary Market Gravity has assisted a digital banking brand with its efforts to provide SME clients with a co-working space. The B Works service will launch in Manchester in early 2019.

CYBG is a holding company that owns Clydesdale Bank, Yorkshire Bank. The group has been on the front foot to chase growth ever since it was formed by National Australia Bank (NAB) in February 2016, in advance of the divestment of its UK business through a stock market flotation. It launched the B service in the United Kingdom in the same year.

The B banking brand focuses on app-based banking and computer learning of personal finances to help customers manage their savings. As part of this, B offers app-based current accounts that are paired with a savings account, and also offer a credit card, with a selling point of consistently low interest rates and no foreign transaction fees.

Now, as B bids to grow its own profile, the Glasgow-headquartered financial disruptor has launched a physical B Works offering. The new line is aimed at enhancing the support offered to SME customers, incorporating co-working into the bank’s new B Works store in Manchester. Following a significant commitment to SME lending in the North West, through its Yorkshire Bank brand, B Works will open in early 2019, focusing on providing services that will help retail and SME customers develop their business. The Manchester locale will include a space that companies can use and a programme of workshops and events focused on helping them grow their businesses.

The proposition for SME clients was developed with the support of Market Gravity, a subsidiary of Deloitte. The London-based company, founded in 2009, was acquired by the Big Four giant in 2017, along with subsidiaries of the business based in the US (New York), Canada (Toronto) and Hong Kong. Deloitte hoped the company’s unique blend of innovation and customer-led design skills, would enable clients across the world to reinvent their businesses in the future, as the company combines with Deloitte’s capacity for large scale digital transformation.

Henry Egan, Head of Client Services at Market Gravity, commented on the project for B Works via his LinkedIn, “Great to see the announcement of B Works, the new SME banking proposition Market Gravity designed for CYBG.”

Market Gravity has previously worked with CYBG properties before its merging with Deloitte. Earlier in 2017, the firm was drafter in to help the Clydesdale and Yorkshire Bank with its efforts regarding a new innovation lab.