Alliance of incumbents and fintechs

Royal Bank of Scotland (RBS) has reportedly enlisted the help of challenger bank Starling in its efforts to develop a digital bank of its own.

The growing collaboration between incumbents and fintechs continues…

The news, reported by The Times newspaper, came as a result of a letter to shareholders from Starling’s chief executive Anne Boden which stated that it has signed a contract “to provide payment services to support new initiatives at RBS/NatWest”. According to The Times, these initiatives include “a secret project to build a standalone digital bank”.

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