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Digital start-ups complain they're being frozen out of ?775m RBS remedies contest

Digital start-ups are complaining they have been frozen out of the lion’s share of a contest for ?775m of funding stumped up by RBS to boost competition in business banking.
Tide, the business banking service, told The Daily Telegraph the eligibility criteria had blocked it from bidding for the majority of the package.
Regulators have forced RBS to carve out the funding as the price of keeping subsidiary Williams & Glyn. Brussels had originally demanded RBS spin out 300 branches because the bank ­received a ?45bn bailout during the ­financial crisis, but the plan proved too technically demanding.
Digital start-ups complain they're being frozen out of ?775m RBS remedies contest

Digital start-ups providing online and mobile banking services complain they are being frozen out of the contest
Credit:
Lauren Hurley/PA Wire
Under eligibility criteria drawn up by the Treasury and European Commission, most of the packages...
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