In a paper published by the Department for Business, Innovation & Skills it is mentioned that the Government will boost competition in banking with the establishment of a New Bank Start-Up Unit, making it easier for new banks to enter the market.

The PRA and FCA will launch the New Bank Start-Up Unit on 20 January 2016. The new Unit will have a dedicated website, and will provide firms with named case officers at both the PRA and FCA to give dedicated supervisory resource to assist new banks to enter the market and through the early days of authorisation.

View A better deal: boosting competition to bring down bills for families and firms, 30 November 2015