While it is not a neobank, Handelsbanken is regarded as a challenger bank. While you may not know it yet, it does actually have more branches in the UK that the better known Metro Bank!
Due to the uncertainty of the Brexit deal Handelsbanken have decided to restructure their UK branch.
Handelsbanken currently operate their UK business thru a branch of their main Swedish company Svenska Handelsbanken or SHB. All deposits are covered by the Swedish equivalent of the FSCS (the SDGS).
They plan to transfer all their business in Great Britain and Northern Ireland to a wholely owned subsidiary called Handelsbanken PLC (subject to High Court approval* and authorisation by the Prudential Regulation Authority or PRA).
It is expected the plans will take effect from 1st December 2018. All deposits will then be secured by the UK’s FSCS.
*Part VII of the Financial Services & Markets Act 2000