Banking Competition Remedies Ltd publishes progress updates
The Board of Banking Competition Remedies Ltd (BCR) today publishes the third update from Pool A recipients, second update from Pool B and D recipients and first update from Pool C recipients, providing a summary of performance against their public commitments.
The public commitments updates indicate that mobilisation of the awardees is now firmly moving into delivery. The updates of those awarded and the original commitments made can be found here.
Pool A third quarter update
- Metro Bank PLC published its revised public commitments and progress update on Wednesday 26th February 2020
- Starling Bank Limited public commitment progress update
- ClearBank Ltd public commitment progress update
Pool B second quarter update
- Nationwide Building Society public commitment progress update
- Investec Bank plc public commitment progress update
- The Co-operative Bank Plc public commitment progress update
Pool C first quarter update
- Atom Bank Plc public commitment progress update
- The Currency Cloud Group Ltd public commitment progress update
- Iwoca Ltd public commitment progress update
- Modulr Finance Limited public commitment progress update
Pool D second 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
Performance against these will be updated quarterly and all the Pool awardees will submit their next progress reports in April 2020.
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.
Godfrey Cromwell, BCR’s chairman, commented:
“In delivering against their public commitments, we can see that awardees are beginning to make a real difference for SMEs by creating competition across a breadth of financial solutions in the SME marketplace.”
The Capability and Innovation Fund is designed to promote capabilities and competition in the market for banking services to SMEs in the United Kingdom. Further details on the Capability and Innovation Fund can be found here.
