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United Kingdom : RBS to invest $1.7B to boost mobile and online banking channels, revamp branches

July 3, 2014



Royal Bank of Scotland (RBS) would invest 1 billion UK pounds ($1.7 billion) to boost mobile and online banking channels and revamp its branches into "advice and education" centers.

As the bank continues its push to pare down its global and investment banking operations and instead concentrate on U.K. retail banking, RBS will direct all the investment at consumer and small business banking.

Nearly 40 percent of the new investment will be assigned toward digital initiatives, with 25 percent committed to infrastructure and systems and 35 percent to be used by the branches.

The bank said half of retail transactions would come through mobile channels by 2017, up from the current 40 percent.

In the meantime, branch transactions are expected to represent 5 percent of the business in 2017, down from the existing 13 percent.

The investments are meant to support these trends.


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Source: TendersInfo (India)


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