Royal Bank of Scotland Group ( RBS ) is considering whether to create a fintech fund as part of a £ 750 m ( $ 933 m ) package designed to promote competition in the UK retail banking market , according to a market statement from the bank this week . To stimulate competition for lending to smaller companies , RBS will pay " dowries " to challenger banks so they can take on some of its small business customers . The decision came after RBS revealed its plans to abandon the sale of retail bank branches to meet the terms of its £ 46bn government loan in 2008 .
Royal Bank of Scotland Group (RBS) is considering whether to create a fintech fund as part of a £750m ($933m) package designed to promote competition in the UK retail banking market, according to a market statement from the bank this week. To stimulate competition for lending to smaller companies, RBS could pay "dowries" to challenger banks so they can take on some of its small business customers. The announcement came after RBS revealed its plans to abandon the sale of 300 bank branches to meet the conditions of its £46bn government bailout in 2008.