RBS To Allocate $1 Billion To Help SMEs Switch To FinTechs
PYMNTS
JULY 28, 2017
Reports Thursday (July 26) said the Royal Bank of Scotland will be required to establish an innovation investment fund worth nearly $670 million, and a scheme worth $457 million, to encourage SMEs to switch bank accounts. RBS is also required to pay grants to challenger banks and FinTechs in an effort to enhance competition.
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