Company News Summary
Virgin Money UK Provides Trading Update
04 Nov 2021 | 18:34:00 | Associate analysts | Increase | Decrease | 
Original announcement: Full Year 2021 Trading Update
Virgin Money UK announced that Global Payments to collaborate with the Company to develop digital wallet featuring merchant services, BNPL capability and embedded rewards via loyalty scheme, with first iteration expected 2022. The Company reported that relationship deposits increased 19% to GBP30.6bn, while overall deposits decreased (1)% to GBP66.9bn as the Group managed the deposit mix and reduced funding costs. The Company announced partnership with Microsoft to deliver IT infrastructure to create an effective and agile platform.
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