Banking Competition Remedies (BCR) has published its first progress updates on the public commitments from Pool A Capability and Innovation Fund recipients.
Pool A of the Capability and Innovation Fund is designed to promote competition in the market for banking services to SMEs in the UK.
The updates represent a summary of performance from Pool A recipients — which included Metro Bank, Starling Bank and ClearBank — against their public commitments.
The updates of those awarded can be found on the public commitments page.
“Following the distribution of funds, our focus has now turned to the monitoring and compliance of how those funds are being used,” said Godfrey Cromwell, chairman at the BCR.
“While it’s early days, it is reassuring to see the mobilisation effort underway.”
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