Conister Bank Introduces Plugin Overdraft in Collaboration with Fiinu

Conister Bank Introduces Plugin Overdraft in Collaboration with Fiinu

17 September 25

 

Conister Bank, part of Manx Financial Group, is proud to announce the launch of a new overdraft solution in partnership with Fiinu Plc. Delivered on a white-label basis, the Plugin Overdraft represents a significant innovation in consumer finance, leveraging Open Banking to offer customers access to overdraft facilities without the need to switch their current accounts.

This model separates overdrafts from traditional banking relationships, giving users greater flexibility and control over their finances. It’s a forward-thinking solution designed to meet the needs of today’s digitally connected consumers.

Initial Rollout via Payment Assist

The first phase of the rollout will be through Payment Assist, another Manx Financial Group subsidiary, which already serves over one million retail customers. This provides immediate reach and operational scale, allowing Conister Bank to validate the offering in a live environment before expanding to its broader retail and SME segments.

Strategic Focus on Innovation and Responsibility

The decision to bring Plugin Overdraft to market reflects Conister Bank’s commitment to transparency, flexibility, and regulatory alignment in financial services. While Fiinu provides the underlying technology, it is Conister’s strategic positioning and distribution capabilities that ensure the product is delivered in a way that meets both evolving customer expectations and regulatory standards.

Conister Bank, with its 90-year heritage and banking licences in both the Isle of Man and the UK, has access to deep liquidity pools. These are deployed into key UK markets, particularly those impacted by the cost-of-living crisis, affecting both SMEs and retail customers. The Plugin Overdraft adds to Conister’s suite of short-term lending products, offering a flexible solution for those navigating financial uncertainty.

This partnership is a testament to Conister Bank’s ongoing mission to deliver smart, accessible financial solutions that empower customers and support responsible lending.

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