RBS has prioritised technological investments after the Bank finally returned to profitability last year after its £45 billion Government funded bailout in 2008. RBS follows in the steps of other UK Banks such as Barclays, by rolling out digital products in an attempt to stay ahead in a rapidly changing environment. RBS like many other incumbents fear the rise of tech giants and Fintech startups.

However, their recent announcement that they will be launching Mettle, a digital account for SME’s makes the bank the first UK big high street lender to set up a standalone digital bank.

Mettle, will provide business customers with a current account and also offer invoicing services and cash flow forecasting. This model will be available through an app, the likes of which can be seen in Starling Bank’s challenger business account 

Mettle’s appearance comes just months after RBS announced the planned launch of Bó, a digital current account that will only be accessible on mobile devices and is due to be publicly launched next year.