Home Business News The Royal Bank of Scotland planning digital challenger bank?

The Royal Bank of Scotland planning digital challenger bank?

by
19th Mar 18 3:31 pm

Millions of pounds have reportedly been earmarked for the new platform

Just a month after unveiling technology investments in its trading update, Royal Bank of Scotland is now reportedly working on plans to create a standalone digital bank.

Led by the bank’s former chief operating officer Mark Bailie, the Sky News report claims that millions of pounds have already been earmarked for the new platform.

A spokeswoman for RBS declined to confirm this report, but said the bank did need to launch new approaches to keep pace with rapid change in the industry: “Our industry is changing rapidly and therefore we need to keep pace with this by launching new approaches to better serve our customers.

“We will not comment on media speculation, but we’re focused on using automation and technology to deliver a more efficient banking experience that better reflects the changing way our customers now bank.”

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