Welcome
Welcome to the website of Banking Competition Remedies Limited (BCR)
The website provides:
- Overview of the Alternative Remedies Package
- Information about the successful Bodies and their reporting commitments for:
- The Incentivised Switching Scheme (“ISS”) [closed 30th June 2021]
- The Capability and Innovation Fund (“CIF”)
- Associated documents
Please use the menu above to obtain further details.
For information on CIF Pool F, please click here.
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.
Form3 announces plans for international expansion, primarily focusing on the US. Please click here to be redirected to AtliFi.com
Virgin Money shares its SME banking story of recent years and the important role of CIF and ISS in its growth. Please click here to be redirected to Yorkshirepost.co.uk
ClearBank ranks 16th in the top 20 UK fintechs by amount of money raised, highlighting the role CIF funds has played in its journey. Please click here to be redirected to TheTimes.co.uk
After iwoca’s launch of its own OpenLending platform following its £10m Capability and Innovation Fund award, which allows partners to integrate seamlessly with iwoca’s lending API, the company has created over 20 embedded finance partnerships. In this article iwoca highlights the importance of embedded finance to SME recovery and rebuilding the economy. Please click here to be redirected to Financialit.net.
Co-op Bank’s Chief Executive, Nick Slape, comments on the role of the Incentivised Switching Scheme as he shares the positive progress of the bank’s SME banking proposition in its 2021 interim results. Please click here to be directed to thebusinessdesk.com.
The Incentivised Switching Scheme closes with a total of 69,135 firms changing providers. Please click here to be directed to Heraldscotland.com.
In its annual results, Starling Bank says it’s close to fulfilling its BCR pledge to reach a 6.7 per cent market share of SME customers. Please click here to be directed to AltiFi.com.
BCR closes ISS and publishes its results. Please click here to be directed to AltiFi.com.
Business-focused digital bank Tide has raised £72 million in Series C investment. Please click here to be directed to BusinessCloud.co.uk.
BCR grant winner Funding Xchange leads the drive towards SME lending digitisation with the launch of FXE Technologies. Please click here to be directed to FinancialIT.net.
CIF awardee Codat has secured £40 million in Series B funding round. Please click here to be directed to Finextra.com.
Top Underestimated FinTech Firms – The Next Big Thing [Finextra, 11th June 2021]
Putting money on a shore thing [Elite Business, 7th June 2021]
Banking Competition Remedies published Pool E progress updates [FInextra, 30th April 2021]
More BCR grant winners are asking to change their public commitments [AltFi, 30th April 2021]
