RBS plans on opening a digital challenger bank

(Richard) #166

Fair enough, I know a couple of other people who said they were involved, but there wasn’t much focus, compared to the RBS/Natwest stuff.

I guess it depends on where/what you are doing.

But as I said before, going digital will be them trying to cut costs, it’s a large motivator.

The “killer” feature is if they can tie some support into using their cash machines (cash withdrawl without the card) or if you need help in a branch you could pop in (similar to what First direct do with HSBC).


Can you tell us a bit more about what happened? I didn’t realise they had an application for a banking licence rejected!

(Jamie 🏳️‍🌈) #168

I know RBS have at least two banking licences, and I thought they only restructured to their current use of both after the Williams & Glyn project collapsed.

I assumed W&G would either be sold as a brand to a current banking licence holder (Santander) or come with one of the existing licences.


I’ve noticed recently that when I use my Lloyd’s debit card I get an Apple Pay Notification even if I use my physical card. It’s not 100% consistent yet but it’s becoming more regular.

Likewise Amex also send me an Apple Pay notification when I use the physical card


AMEX have instant notifications for everything (Apple Pay or not).

The whole AMEX experience is very good.


This happens when banks ‘fully’ support Apple Pay (it allows all transactions to be visible from the Wallet app). So far Monzo and Starling haven’t bothered with this. I’ve only noticed it so far with Amex and it’s a nice feature to have.

(Jolin) #172

I’m pretty sure that RBS and NatWest have always operated under their own (separate) banking licences. This is why you can get full £85k FSCS protection on a NatWest and RBS account at the same time. There’s a pretty comprehensive list here, but major banking groups often have more than one licence (it seems Coutts still operates under its own licence as well, despite being part of RBS):

(Jamie 🏳️‍🌈) #173

Think you’re right. My original point was in reply to the statement that RBS was apparently having trouble licensing Williams & Glyn bank, which they had to offload. I was wondering why they were trying for another licence, when they could have used one of their existing ones post–restructure.

(Valeri) #174

And here we go again:


Royal Bank of Scotland has become the first of the UK’s big high street lenders to open a standalone digital bank, with the launch of a new business-focused current account that will be run independently of its traditional brands.

The new bank, called Mettle, is designed for small business customers, and will provide a current account alongside services such as invoicing and cash flow forecasting. Alison Rose, RBS head of commercial and private banking, said the new brand was designed to give customers “a different choice” about how to bank as new technology changes the behaviour and priorities of many small businesses.

Small exert from the FT article, you if you don’t have a subscription google for “Royal Bank of Scotland to launch digital bank for SMEs” and follow the link there for free access to it. :slight_smile:

(Rob) #175

It’s being launched with the team from 11FS (who do the fintech insider podcast) so it’ll actually be fintech!

(Tom) #176

Apparently Mettle isn’t a bank yet


(Richard) #177

Give it time… it has just been launched…

(All Hail the Almighty Doge) #178

Mettle is a bank

Staling Bank :eyes:

(Jack) #179

It sure runs on their infrastructure.

(Tom) #180

Hopefully that means it’s not constrained by what Starling can/can’t do. Xero/FreeAgent integration, I’m looking at you… :eyes:

(l8n.me) #181

Xerocon is like a week away, and Freeagent integration is just behind, so yes, perhaps it won’t be constrained by what Starling can/can’t do for a whole week or two… :roll_eyes::roll_eyes::roll_eyes:

(Tom) #182

Huh? Where have you seen that Starling are going to be launching these soon? They’ve been saying ‘a few weeks’ for months and months.

As a consumer, I’m not necessarily following what every company is doing (Xerocon?), all I see is Starling continually fobbing people off when they’re asked about the integration - “Very excited”, “next few weeks” etc - for ages.

(l8n.me) #183

I’m hardly Sherlock Holmes but if something is important to me, I try to find out.

I had no idea such an event exists, but when both the social media accounts, and the senior executives, of both Starling and Xero keep retweeting, liking, ‘nudge, nudge, wink wink’ style, each other’s posts etc about the event i think there’s a very good chance that since it’s Xero’s big annual event, the integration will be announced. Not my kind of event, but there are plenty of people on here who may go, perhaps they could report back. But i come back to my earlier point, if these things are important, maybe people should be following what the companies are doing.

Yes and no, before i saw ‘in the future’, ‘coming :soon:’, ‘we hope’, now i see, as you say, ‘in a few weeks’, ‘almost there’ and ‘very excited’. Megan always said it would be towards the end of the year. Given she used to work for some of these companies i never understood quite why it was so difficult, maybe i’ll ask.

I get completely confused why if people want to know things, they dont ask. Ask, and you will find out, and ask doesn’t mean post some generic question to no one to a corporate twitter account, but actually asking someone, direct questions, one to one. It almost feels like people have forgotten at times that you can interact with companies in other ways than social media or chat services. The whole point of these fintechs is that they’re more approachable. If I want to ask Tom about something here, I can @ him or DM him and we can talk about it. I don’t need to behave as if this was RBS and feel I can’t go further than the first line of general customer service channels, I can talk to those who matter. It makes life a lot easier, and takes next to no more effort.

That said, i don’t work for Starling so i can neither confirm or deny anything they plan that they haven’t announced themselves.

I hope this doesn’t sound combative, I didn’t intend it to, just trying to explain where i’m coming from.

(Jamie 🏳️‍🌈) #184

RBS still haven’t got a hold on basic security:

…even after a public shaming:


I saw this on their Facebook earlier…