Bó, the digital bank developed by U.K. High Street lender Royal Bank of Scotland (RBS), is being closed down by the British state-backed lender NatWest, following a six-month opening launch, according to a Yahoo Finance UK report. One of Britain’s largest banks, Bó had been positioned to...
The U.K. government is seeking an agreement with financial institutions (FIs) to forgo the need for small businesses to offer personal guarantees to get coronavirus loans, the Financial Times reported. Some small- to medium-sized businesses (SMBs) have noted they were asked to provide the guarantees,...
U.K. government officeholders and companies have chastised financial institutions for requiring personal guarantees for emergency loans that are backed by the state. The mandate puts much of the risk that the loan sours on the owner of the company instead of the institutions, the BBC reported....
Bankers in the U.K. are asking for government intervention in what they call a “farcical” program meant to help business banking after the program experienced a number of setbacks, including one bank returning half of its awarded money, according to a report by the Financial...
September 23, 2020
Virgin Money said on Wednesday (Sept. 23) that it has landed the equivalent of $44.7 million from the United Kingdom’s Capability Innovation Fund, which was created as part of the Alternative Remedies Package that the Royal Bank of Scotland (RBS) – now NatWest – funded as a condition of receiving a government bailout after the […]
November 27, 2019
The Royal Bank of Scotland (RBS) has created an app called Bó with the intention of helping people save money, as well as to compete with other online banking startups,...
September 20, 2019
Thomas Cook, a global travel company based in based in London, needs to find 200 million pounds for lenders or it could collapse, according to a report by Reuters. If...
January 07, 2019
Royal Bank of Scotland (RBS), which is gearing up to launch a new digital bank, has acquired a 25 percent stake in Loot, a U.K. FinTech. According to a report...
