Banking Competition Remedies Ltd (BCR) publishes progress updates
The Board of Banking Competition Remedies Ltd (BCR) today publishes the fifth update from Pool A recipients, fourth update from Pool B and D recipients and third update from Pool C recipients, providing a summary of performance against their public commitments to the period 30 June 2020.
The updates of those awarded, their original commitments made and key achievements to date can be found here. Pool A, B, C and D awardees will submit their next progress reports in October 2020. Pool E awardees will provide their first reporting update in December 2020.
Pool A fifth quarter update
- Metro Bank plc public commitment progress update
- Starling Bank Limited public commitment progress update
- ClearBank Ltd public commitment progress update
Pool B fourth quarter update
- Investec Bank plc public commitment progress update
- The Co-operative Bank plc public commitment progress update
Pool C third quarter update
- Atom Bank Plc public commitment progress update
- The Currency Cloud Group Ltd public commitment progress updat
- iwoca Ltd public commitment progress update
- Modulr Finance Limited public commitment progress update
Pool D fourth quarter update
- Codat Limited public commitment progress update
- Fluidly Limited public commitment progress update
- Form3 Ltd public commitment progress update
- Funding Options Limited public commitment progress update
- Swoop Finance Limited public commitment progress update
As part of BCR’s role in monitoring the way that organisations are using the funds, BCR holds awardees to account on their progress against business plans which includes meeting all the recipients. For more details on how BCR monitors CIF awardees see here.
Aidene Walsh, CIF lead director said: “The last quarter has been difficult for a number of awardees in line with the challenges in the external economic environment. BCR is keeping a close focus on awardees’ delivery and is reassured that they are adapting to deliver on their commitments to support UK SMEs that need access to business banking products, lending, payment services and improved financial technology.”
