Some of the £775 million bounty that is the Royal Bank of Scotland (RBS) competition fund is being handed out to British fintech platforms; the fund, managed by The Board of Banking Competition Remedies, was created as a condition of the bailout of RBS in the financial crisis to help boost competition among the country’s banks and lenders; small business broker Funding Options is the recipient of £5 million as is Fluidly, Codat, Form3/Ebury Partners and Swoop Finance; Funding Options has committed to funding an additional 10,000 small firms with around £500 million in alternative lending by the end of 2022. Source.
