Capability and Innovation Fund

The purpose of the Capability and Innovation Fund is to encourage eligible bodies to:

  1. develop and improve their capability to compete with RBS in the provision of banking services to SMEs; and
  2. develop and improve the financial products and services which are available to SMEs.

The Capability and Innovation Fund will be administered by BCR and comprises a total of £425 million which is divided into four pools. These funds are held in trust at the Bank of England. 

How does BCR make CIF decisions? See here. 

The four pools each have a distinct purpose and are divided into a number of pre-determined grants as follows:

Pool A

Number of grants and value of grants:

1 x £120 million

1 x £100 million

1 x £60 million

Pool B

Number of grants and value of grants:

1 x £50 million

2 x £15 million

Pool C

Number of grants and value of grants:

4 x £10 million

Pool D

Number of grants and value of grants:

5 x £5 million

Purpose:

To facilitate the development of more advanced business current account offerings and ancillary products for SMEs in the UK giving preference to beneficiaries with an established business current account offering.

Purpose:

To facilitate the modernisation of existing business current account offerings or the development of new business current accounts or ancillary product propositions for SMEs in the UK.

Purpose:

To facilitate the expansion of business offerings to include, lending or payments services to SMEs in the United Kingdom or international payments services to SMEs in the United Kingdom. 

Purpose:

To facilitate the commercialisation of financial technology that is relevant to SMEs.

Key Capability and Innovation Scheme Dates

Applicant Company Journey

Pool A

Pool A has closed and the results of the awards as well as the public commitments can be found here.

Pool B

The graphic below sets out the detailed timeline for the Capability and Innovation Fund Pool B from May 2018 through to August 2019.

Applicant Companies should follow the step-by-step guidance (steps 1-8) when submitting their application. 

Please note that the application pack should be downloaded from the BCR website and completed applications submitted via the CIF data room (details below).

1. Keep up to date with BCR press releases and new content on the website (info here).

2. View the information event video to learn more about the scheme (here).

3. Check your eligibility (here).

4. Access the CIF data room (info here).

5. Understand how to submit an application (info here).

6. Find the application pack (here).

7. Raise queries about the scheme and your application if needed (info here).

8. Submit application.

9. If successful, attend BCR’s signing event to physically sign the Agreement (info here).

10. Submit first report.

Pool C

The graphic below sets out the detailed timeline for the Capability and Innovation Fund Pool C from May 2018 through to November 2019.

Applicant Companies should follow the step-by-step guidance (steps 1-8) when submitting their application. 

Please note that the application pack should be downloaded from the BCR website and completed applications submitted via the CIF data room (details below).

1. Keep up to date with BCR press releases and new content on the website (info here).

2. View the information event video to learn more about the scheme (here).

3. Check your eligibility (here).

4. Access the CIF data room (info here).

5. Understand how to submit an application (info here).

6. Find the application pack (here).

7. Raise queries about the scheme and your application if needed (info here).

8. Submit application.

9. If successful, attend BCR’s signing event to physically sign the Agreement (info here).

10. Submit first report.

Pool D

The graphic below sets out the detailed timeline for the Capability and Innovation Fund Pool D from May 2018 through to September 2019.

Applicant Companies should follow the step-by-step guidance (steps 1-8) when submitting their application.

Please note that the application pack should be downloaded from the BCR website and completed applications submitted via the CIF data room (details below).

1. Keep up to date with BCR press releases and new content on the website (info here).

2. View the information event video to learn more about the scheme (here).

3. Check your eligibility (here).

4. Access the CIF data room (info here).

5. Understand how to submit an application (info here).

6. Find the application pack (here).

7. Raise queries about the scheme and your application if needed (info here).

8. Submit application.

9. If successful, attend BCR’s signing event to physically sign the Agreement (info here).

10. Submit first report.

Capability and Innovation Fund Pool D Information Event recording

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