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NEWS RBS to give up on Williams & Glyn sale
& Glyn unit, under order of the government, as the state- owned bank looks to deal with its EU obligations “more quickly and with more certainty than undertaking a difficult and complex sale.” It would instead provide £750 million of initiatives to boost competition in UK business banking.
R
RBS had been ordered by the EU to sell the unit by the end of 2017 to address competition concerns. But talks with Santander broke down and it also failed to agree a deal with Clydesdale Bank. The EU commission would still need to approve the new plan.
The Williams & Glyn brand disappeared in 1985. The resurrected business would have had 300 branches and about 1.8 million customers. Last year, Infosys announced plans to ‘ramp down’ around 3,000 roles after RBS cancelled a $300 million contract involving
Santander pilots voice payments in UK
enable customers to make payments using their voice. The new technology, provided by Nuance Communications, follows the launch last year of voice assistant banking. It has initially been released to iOS SmartBank app users, as a pilot.
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“The worlds of technology and banking continue to evolve at pace, working hand in hand to deliver a friction-free user experience. We are excited to be the first UK high street bank to enable customers to make payments using
antander has become the first UK bank to
just their voice, offering them another channel of choice in how they wish to bank,” says Ed Metzger, Head of Technology Innovation at Santander. “Appetite for simple, intuitive banking solutions has grown significantly in recent years. This pioneering technology has huge potential to become an integral part of the future banking experience, playing a transformational role in the industry and redefining how customers choose to manage their money.”
Customers can log on to the SmartBank app and use their voice to make payments to existing payees. Transactions appear in real-time, retailers are highlighted by name, spend can be calculated by day, month or year and customers with a 1I2I3 credit card can also ask about the cashback they have earned.
Scott Thompson BS is set to ditch plans to sell its Williams
the creation and testing of the systems that would underpin the new look Williams & Glyn. The initiative, which involved extricating the venture from RBS’s creaking legacy systems and migrating to a new platform, was plagued by delays and cost £1.5 billion. The bank “concluded the risks and costs inherent in the programme are such that it would not be prudent to continue.”
Scott Thompson
www.ibsintelligence.com © IBS Intelligence 2017
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