BankingFinTech

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

  • 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
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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