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
- Press Releases
- Public Commitment Updates and Key Achievements for the CIF Awardees

Please use the menu above to obtain further details.

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 raises £75 million as IPO prospects grow [Finextra, 16 February 2022]

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.

A bank with a difference: How Co-operative Bank is revolutionising its SME services [BusinessCloud, 9 February 2022]

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 acquires Fluidly [Accountingweb, 15 December 2021]

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 rolls out portfolio monitoring from FXE Technologies [Altfi, 3 December 2021]

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

BCR celebrates 1,100 jobs created and £1.9bn in investment raised by grant winners [Altfi, 30 November 2021]

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 unveils smart invoicing feature [Finextra, 15 November 2021]

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