PRESS: RBS Making "Secret" Plans For Standalone Digital Bank

19th Mar 2018 15:35

LONDON (Alliance News) - Royal Bank of Scotland Group PLC is planning a standalone digital bank, Sky News reported on Monday, with a former chief operating officer leading the project.

Sky News said former COO Mark Bailie has been assigned to the project, which is so secretive "few people" inside the company are even aware of it.

Tens of millions of pounds have been earmarked for the new platform, which it said is still in very early stages and may not even result in a new lender coming to the market.

https://news.sky.com/story/rbs-working-on-secret-plot-to-create-digital-challenger-bank-11297020

RBS shares were down 0.8% at 258.40 pence Monday.

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