When the Turkish entrepreneur Selman Turk launched a new digital bank three years ago, he was entering a crowded market of online start-ups hoping to grab business from the traditional banks.
It seemed there was little to distinguish the new London-based venture, Heyman AI, from a host of other contenders. It had a rudimentary website, meagre funding compared to some of its digital rivals and no banking licence. “We are building a good bank for good people,” said its website. A footnote added that it was “in the application process” to become a bank in the UK.
