Welcome to the website of Banking Competition Remedies Limited (BCR)

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Alternative Remedies Package and Impact

Here are a set of short videos from some of the organisations that have benefited from the Alternative Remedies Package. Hear directly from the organisations on the impact it has had on them and their customers. Please click here to view the videos.

Overview Timeline

Please see the Incentivised Switching Scheme and Capability and Innovation Fund pages for further detail on timelines for the schemes.

Recent News

Read the latest news from BCR and on participants in the two schemes.

Atom Bank raised more than £75m in new equity priced at 70p per share following the £40m raised in April 2021 as it continues to grow its profitability.

The Co-operative Bank and BankiFi worked together to build an online platform for SME banking. They remain determined to deliver on their commitments following the grant they received from the BCR in 2019.

Please click here to be redirected to BusinessCloud

Oaknorth Bank has acquired cashflow app developer Fluidly. Fluidly remains committed to fulfilling the public commitments made following the grant it received from BCR in 2019.

Please click here to be redirected to AccountingWeb

Shawbrook Bank will roll out proactive portfolio monitoring to help analyse the performance of its SME loans. The solution is powered by FXE technologies, the lending tech arm of Funding Xchange, and part funded by the BCR grant.

Please click here to be redirected to Altfi

The Banking Competition Remedies celebrated its third annual report, with details that over 1,173 jobs have been created due to the £775m it has redistributed.

Please click here to be redirected to Altfi

Untied is making it easier, safes and cheaper for small businesses to send and receive payment for their invoices through their app’s new invoice capability.

Please click here to be redirected to Business-Money.com

After the pandemic: what more can banks and government do to support SMEs? [British Chambers of Commerce, 21 October 2021]

Cashplus Bank announces successful bid for BCR funding to boost UK small business banking [Business Money, 21 October 2021]

Codat awarded further BCR funding to open up SME sales data to lenders and payment providers [Business Money, 21 October 2021]

Irish fintech Swoop awarded £2.5m under RBS bailout fund [The Irish Times, 20 October 2021]

Codat, Cashplus and Swoop share $12.5 million award from Banking Competition Remedies Board [Finextra, 20 October 2021]

Form3 planning US launch as Goldman Sachs leads its $160m funding round [AltiFi, 16 September 2021]

Virgin Money unveils its plans for Yorkshire businesses [Yorkshire Post, 31 August 2021]

The fintech crew in vanguard of a revolution [The Times, 31 August 2021]

Embedded Finance Key to SME recovery and rebuilding economy [Financial IT, 16 August 2021]

Co-op Bank back in profit with strong interim performance [TheBusinessDesk, 29 July 2021]

Incentives lure SMEs to switch banking providers [The Herald, 23 July 2021]

Starling Bank’s 2021 results see 600% jump in revenues and 8 months of profitability [AltFi, 22 July 2021]

Top marks: Starling switched the most SME customers as a part of the BCR’s Incentivised Switching Scheme [AltFi, 22 July 2021]

£72m to drive global growth at neobank Tide [BusinessCloud, 12 July 2021]

Funding Xchange launch FXE tecnologies [Financial IT, 8 July 2021]

Codat raises $40 million in Series B round [Finextra, 2 July 2021]

Top Underestimated FinTech Firms – The Next Big Thing [Finextra, 11 June 2021]

Putting money on a shore thing [Elite Business, 7 June 2021]

9Spokes jumps on signing milestone three-year contract with Virgin Money UK [Proactive Investors, 4 June 2021]

The Co-operative Bank Achieves Growth Targets & Launches Value Add Services for SME Customers [Wealth and Finance, 20 May 2021]

Virgin Money Partners with Fintech Trade Ledger as part of a new business banking proposition [Financial IT, 30 April 2021]

Banking Competition Remedies published Pool E progress updates [FInextra, 30 April 2021]

More BCR grant winners are asking to change their public commitments [AltFi, 30 April 2021]


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