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Cynergy Bank: Bids for £10 million from the banking competition remedies

September 1, 2020

Cynergy Bank has submitted an application for a £10m grant from Pool B of the Banking Competition Remedies (BCR)
The scheme set up to foster competition in UK banking as part of RBS’s response to EU state aid requirements
The funds will accelerate and broaden Cynergy Bank’s programme to enhance its SME customer proposition
Cynergy Bank will create the UK’s first digital relationship bank for this vital and underserved section of the economy
Cynergy Bank will develop a Business Current Account with ancillary products and services to support a much-neglected section of the market
The UK comes third in the OECD start-up index but ranks just thirteenth when it comes to scale-ups