LHV

What LHV does

LHV Bank Limited is the UK-licensed banking subsidiary of LHV Group, an Estonian financial group listed on Nasdaq Tallinn. Operating as an app-only digital bank, LHV Bank Limited serves UK individual consumers with a current account paying 3.75% AER on balances up to £1 million, savings products offering up to 4.50% AER, and fee-free debit cards designed for international travel. The bank is authorised by the PRA, regulated by the FCA (FRN 993767), and offers FSCS deposit protection up to £120,000. Distribution is entirely digital via native iOS and Android applications and a self-serve website.

LHV's underlying technology stack comprises a UK Open Banking standard-compliant API infrastructure built in cooperation with Salt Edge, providing Account Information Services (AIS), Payment Initiation Services (PIS), and Confirmation of Funds (PIIS/CBPII). The proprietary LHV Connect API extends this with VIBAN services, Bacs and SEPA Direct Debit collection, Confirmation of Payee, Indirect Scheme Access, Webhooks, and a multi-tenant Service Provider Model, targeting fintech partners and payment service providers.

Revenue mechanics operate on two fronts: a Net Interest Margin model on the consumer deposit and lending book (group-level deposits of €7.86 billion and loan portfolio of €5.52 billion as of February 2026), and transaction/API fees from B2B Open Banking and Connect API services to fintech partners and developers. Group-level monthly net profit has consistently registered in the €6-9 million range across late 2025 and early 2026, with ongoing customer growth in both Estonia and the UK. In August 2025, LHV entered a partnership with Luminance to deploy Legal-Grade AI for internal contract review workflows.

Name

LHV

Legal name

LHV Bank Limited

Website

https://lhv.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

LHV Bank Limited is the UK-licensed, app-only digital banking subsidiary of Estonian LHV Group, offering UK consumers high-interest current accounts, savings products, and fee-free travel debit cards, alongside a B2B Open Banking and Connect API platform serving fintech partners and payment service providers.

Ownership category

akta.pro rank

Product category

Digital Banking

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

National Commercial Banks (6021)

akta.pro primary industry

A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)

akta.pro secondary industries

Direct Debit / ACH Collections & Recurring Billing (FSAMAGAE), Corporate Cash Management & Treasury ACH (FSAMAGAG)

Keywords

• Retail banking services
• Digital banking app
• Open banking API
• Business banking accounts
• High interest savings

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income: LHV Bank earns interest income on loans and mortgages extended to customers, generating returns on the €5.52 billion loan portfolio.
2. Deposit Interest Spread: The bank pays interest on customer deposits (€7.86 billion in deposits) and earns spread income through lending activities.
3. Current Account Services: Provides current accounts with interest earnings (3.75% AER up to £1,000,000), generating fee income and float revenue.
4. API/Open Banking Services: Revenue generated from B2B API services including account information, payment initiation, and virtual IBAN services for fintech partners and businesses.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

LHV Bank is an app-only UK digital bank offering personal current accounts paying 3.75% AER on balances up to £1,000,000, savings products (Easy Access and Fixed Rate Bond) earning up to 4.50% AER, and travel debit cards with no spending fees abroad. Alongside the consumer bank, LHV operates the LHV Connect API and Open Banking API platform, providing account information, payment initiation, virtual IBAN, direct debit collection, and confirmation of funds services to fintechs and businesses.

Product overview

LHV Bank is an Estonian financial group with operations in both Estonia and the UK. The company operates two main business lines: (1) LHV Bank UK (app-only digital bank) offering personal current accounts with competitive interest rates (up to 3.75% AER), savings products including Fixed Rate Bond and Easy Access accounts (up to 4.50% AER), and debit cards designed for travel; and (2) LHV Connect API - a developer platform providing Open Banking services including Account Information Services, Payment Initiation Services, Confirmation of Funds, VIBAN management, Direct Debit collection, Webhooks, and Service Provider models. The UK bank and the API platform serve different market segments, with the consumer banking products focused on personal banking customers and the Connect API targeting fintechs, businesses, and developers.

Differentiator

Problem solved

Functional benefit

Products and services

• LHV Current Account App-only current account for UK individuals paying 3.75% AER / 3.69% Gross interest on balances up to £1,000,000. Designed for personal banking customers who want high interest and digital account management.
• LHV Savings Accounts
• LHV Debit Cards
• LHV Bank App
• LHV Connect API
• LHV Open Banking API

Quantifiable outcome

• LHV Group's consolidated loan portfolio reached €5.52 billion with deposits exceeding €7.86 billion as of February 2026
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature2 records

Partnerships

One partnership is on record.

• Salt EdgecoreTechnology or IntegrationLHV's Open Banking API is built in cooperation with Salt Edge, adhering to the UK Open Banking standard. Salt Edge provides the technical infrastructure for account information services (AIS), payment initiation services (PIS), and confirmation of funds services, enabling LHV to offer compliant Open Banking capabilities to its customers and API partners.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Allica Bank: UK challenger bank focused on SME lending, savings, and current accounts. Comparable to LHV's stated SME lending focus and digital banking model targeting UK businesses.
• Atom Bank: UK app-only challenger bank offering savings products and mortgages. Comparable as a UK-licensed, app-first bank competing for deposit and savings share with competitive headline rates.
• Revolut: UK-headquartered digital banking app with multi-currency accounts, savings, and a travel-friendly debit card with no FX fees — a direct overlap with LHV's fee-free international card and savings products, and broader multi-market scale.
• Zopa Bank: UK digital bank offering savings products, credit cards, and personal loans. Comparable as a UK-regulated challenger bank focused on consumer deposits and unsecured lending via a digital channel.
• Starling Bank: UK-based digital challenger bank offering app-only current accounts, savings, and business banking. Starling is one of the most direct comparables in terms of FCA-regulated app-only model, FSCS protection, and target customer (UK individuals and SMBs).
• Tandem Bank: UK digital challenger bank offering savings accounts, mortgages, and green home improvement loans. Comparable as a UK-licensed, app-led bank competing for the same rate-sensitive deposit customer.
• Monzo: Leading UK digital challenger bank offering app-based current accounts, savings pots, and personal loans. Directly comparable on FCA-regulated status, app-only distribution, competitive interest offerings, and travel-friendly debit card positioning.
• Wise: UK-listed cross-border payments and multi-currency account provider. Comparable on the FX-fee-free travel card proposition and on the regulated payment institution / banking infrastructure overlap with LHV's Connect API business.

Broad incumbents

• ClearBank: UK clearing bank offering Banking-as-a-Service, payment rails (Faster Payments, Bacs, CHAPS), and embedded banking APIs. Comparable to LHV Connect's B2B offering of payment initiation, direct debit, and virtual account infrastructure for fintechs and PSPs.

Regional players

• Bunq: Dutch-headquartered pan-European digital bank with multi-currency accounts and an Open Banking API platform. Comparable product set (app-only banking, savings, Open Banking APIs) but primarily serves the EEA rather than the UK.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lhvbank
• Instagraminstagram.com/lhvbank
• Xx.com/finantsportaal

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LHV