Progress updates on Public Commitments from Pool E Capability and Innovation Fund recipients
The Board of Banking Competition Remedies Ltd (BCR) today publishes progress updates for Pool E recipients, providing a summary of performance against their public commitments for the period ending 31st May 2022.
The public commitment updates this reporting period see the majority of awardees making excellent progress delivering on their targets while a couple are seeing challenges due to headwinds in their sectors.
Awardees progress against public commitments made can be found here. This quarter has seen the approval of Fractal Labs (t/a tomato pay) and Virgin Money Revised Business Cases, as well as ezbob’s Revised Business Case subject to conditions around distribution channels. There is no doubt that the last couple of years have presented unprecedented challenges and the current macro-economic difficulties continue to impact UK SMEs and suppliers of services to them. Awardees are not immune to this. Where relevant BCR is working with awardees to retarget KPIs through to 2024-25 to ensure that the ambition to create an impact for UK SMEs is fulfilled.
A summary of performance against awardees public commitments can be found in the notes to editors, with links to the full updates provided above:
Pool E seventh quarter update
- Virgin Money UK PLC public commitment progress update
- ClearBank Ltd public commitment progress update
- Ebury Partners Limited public commitment progress update
- MarketFinance Limited public commitment progress update
- Funding Xchange Ltd public commitment progress update
- Codat Limited public commitment progress update
- ezbob Ltd public commitment progress update
- Fractal Labs Ltd public commitment progress update
- Previse Ltd public commitment progress update
The next progress update for Pool E awardees will be in October 2022, with their final update in February 2023. Pool A, B, C, D and F awardees will provide their next progress update in August 2022. For more details on how BCR monitors CIF awardees see here.