RBS’s Monzo challenger Bó has shut down only six months after initially launching; the company plans to merge the technology...
Bó was announced in November 2019 as RBS’ new digital banking offshoot; now the CEO of Bó Mark Bailie has...
Some of the £775 million bounty that is the Royal Bank of Scotland (RBS) competition fund is being handed out...
RBS plans to launch a next generation mobile only bank by third quarter 2018; the project is expected to launch with more than one million users from the bank; reports also point to the bank pursuing a marketplace business model which values partnerships over lending as a revenue model; while it looks like it is rumors right now the bank is clearly moving more digital. Source.
Open Banking kicked off in the UK this past January. Thus far we’ve seen slower adoption among traditional banks, a...
Embattled UK bank Royal Bank of Scotland, a name it has gone by for 300 years, is rebranding to NatWest...
Loot was a startup that offered a current account for millennials; last month it went into administration after they ran...
A blockchain trial has been completed with leading UK banks Barclays and RBS along with R3-affiliated Instant Property Network (IPN); the...
Digital only banks have certainly attracted the attention of incumbents as they look to keep up with customer experience innovation; in the past year banks like Chase, RBS and others have started creating their own digital only brands; the digital only banks have been able to more easily create online marketplaces for products, better options for traveling and mobile workers and they have made the customers a part building the experience; this more nimble, quicker way of building has put pressure on big banks to keep up as many sizable banks have many layers of compliance and process to build. Source.
According to a new study by Accenture 7 out of 10 consumers would be reluctant to share their Information with third party providers; Citi recently published a study pointing to three main reasons that wide scale adoption will take longer; reasons include slow consumer adoption, fragmented market for new open banking services and the ability for payment providers to adapt to new rules; thus far open banking has been slow but big banks like Lloyds Banking Group and RBS have made big tech investments anticipating the change will happen over time. Source.