In the last couple of years, we’ve seen a substantial shift in the way banking systems offer their services. We saw some new digital banking services that shook up the scene and introduced new features. One such service was the standalone digital bank Bó by the Royal Bank of Scotland (RBS). However, RBS has decided to pull the plug on the digital bank, and here’s why this happened.
RBS pulls the plug on its digital bank Bó
RBS recently released a report wherein it explained that its digital bank Bó is being shut down. More precisely, Bó will be merged with RBS’ digital bank for SMEs, Mettle. “As a result, we will be winding down Bó as a customer-facing brand. The technology used in Bó will be integrated as we develop Mettle further,” RBS CEO Alison Rose said in a media call.