Chetwood Bank, the UK-based digital challenger bank, has been selected to participate in the second cohort of the Prudential Regulation Authority (PRA) and the Financial Conduct Authority’s (FCA) Scale-up Unit.
As one of the firms chosen to take part in the second cohort, Chetwood Bank will benefit from tailored support in areas such as regulatory processes, product innovation, impact of new policy proposals and sector engagement, helping them to grow sustainably at pace.
Announced by the Chancellor of the Exchequer in October 2025 as part of the Government’s Financial Services Growth and Competitiveness Strategy, the Scale-up Unit was created to provide support for fast-growing and innovative firms as they develop new products, attract new customers and move into new markets.
The Scale-up Unit is intended to provide a smoother and more supportive regulatory experience for firms as they go through a critical growth phase. It will also engage with the sector as a whole to identify opportunities for regulators to better deliver sustainable growth, competitiveness and innovation.
Chetwood Bank is focused on making specialist banking simpler and more accessible by combining technology, expertise and strong partnerships. It provides mortgage and wholesale lending solutions, funded by retail savings, serving individual savers, professional landlords, borrowers, intermediaries and institutional partners.
Over the last 18 months, Chetwood Bank’s savings balances have grown by £1.7 billion, an increase of 43%, reflecting growing customer confidence in the bank and supporting the continued expansion of its lending and investment activities.
Over the same period, the bank’s treasury portfolio has grown by £1.6bn, an increase of 88%, including a £1.1bn increase in structured finance investments across RMBS, ABS and CLOs, alongside a strengthened liquidity position.
Paul Noble, Chief Executive Officer at Chetwood Bank, said: “We’re delighted to have been selected to join the second cohort of the Scale-up Unit.
“As a rapidly growing bank, the Scale-up Unit offers us a valuable opportunity to engage more closely with both the FCA and PRA, helping us navigate an increasingly complex regulatory environment while supporting our growth ambitions.
“We believe participation in the initiative will support us in continuing that journey at pace, with the confidence that comes from strong regulatory engagement and understanding."
Participation in the Scale-Up Unit does not imply endorsement by the FCA or PRA of any aspect of Chetwood Bank, its products or innovations.
