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Virgin Money seeks to cash in on all-digital banking


The company that brought phonograph records and an airline to the public with great success has embarked on an ambitious digital initiative to blaze new trails in the financial industry. Virgin Money, with branded financial services in Australia, South Africa and the United Kingdom, is developing a new bank that will be 100 percent digital.

“It’s a whole new business model,” said Andy Makings(pictured, right), head of cloud and developer operations at Virgin Money. “We’ve got this big Virgin digital brand that we can really use to get the customer base.”

Makings spoke with Jeff Frick (@JeffFrick), host of theCUBE, SiliconANGLE Media’s mobile livestreaming studio, during the Sumo Logic Illuminate event in San Francisco. He was joined by Julian Howe (pictured, left), head of the Cloud Business Office at Virgin Money, and they discussed the ongoing work needed to launch the new initiative next year and the role played by Sumo Logic Inc. to get the bank up and running. (* Disclosure below.)

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