The BCR aims to distribute the Royal Bank of Scotland's £775 million grant in separate rounds known as
, a condition from its 2008 state bailout, to promote innovation in business banking. The partnership is bidding for Pool E, which consists of £100 million .platform into a new online finance portal, providing SMBs with access to its learning tools and network of over 10,000 business advisors, in addition to financing options from challenger banks and alternate lenders.
The BCR has had mixed success so far, with some banks failing to use the funds despite being accepted into the scheme, while fintechs Starling and Tide have successfully innovated their business banking solutions. Metro Bank and Nationwide had to return their BCR funds due to recent setbacks. The BCR's £100 million Pool E consists of the two £50 million funds first to and then returned by Metro Bank and Nationwide. Access to the BCR was supposed to help these banks enhance their SMB services, keeping a competitive edge over fintechs also vying to fulfill SMBs' banking needs. But Metro Bank's £130.
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