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.

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, 03 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

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

TSB Business Banking Director Mark Curran and Chair of the All Party Parliamentary Group on Fair Business Banking share thoughts on what help and support businesses need following the pandemic

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

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

Cashplus plans to lend an additional £5bn to UK small businesses within the next four years

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

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

The universal API for small business data will use funding to enhance decisions made by lenders and providers and to offer automated payment reconciliation into small businesses’ accounting platforms

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

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

Irish fintech start up Swoop Finance has been awarded a further £2.5m from BCR

Please click here to be redirected to Irishtimes.com

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

BCR announces the results of Capability and Innovation Fund Pool F grant process

Please click here to be redirected to Finextra.com