Founded in 1985, Paragon Bank is a British bank, operating in the United Kingdom and providing savings and lending products to private individuals.
Due to regulatory requirements Paragon Bank Plc performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Paragon Bank Plc will ask him/her to provide the following documents: passport, ID card, utility bill. For corporate clients Paragon Bank Plc will ask to provide corporate documentation as well as information about controlling persons. Paragon Bank Plc may request additional documentation or information depending on the case.
Paragon Bank Plc is the 45th largest bank in the United Kingdom in terms of total assets. In 2018 its total assets were 7 488,86 mln GBP, providing the bank with the market share of 0.08%. In 2018 the bank's annual profit was 156,43 mln GBP.
Paragon Bank Plc participates in the deposit guarantee scheme of the United Kingdom. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by private individuals, companies and covers up to up to 85,000 GBP per bank per depositor. Paragon Bank Plc is a member of Financial Services Compensation Scheme (FSCS) and makes its contributions into it.
Paragon Bank Plc is headquartered in Solihull.
Paragon Bank Plc is authorized and supervised by the Financial Conduct Authority (reference number 604551).