RBS Shuts Down Bó After Six Months

RBS’s Monzo challenger Bó has shut down only six months after initially launching; the company plans to merge the technology used in Bó with their SME digital banking platform Mettle; a spokesperson for RBS tells AltFi: “After careful consideration, we have made the decision to wind down Bó, and focus on our digital bank for SMEs, Mettle. As a bank, we will continue to test and learn, investing in innovative banking services that will provide a better experience for our new and existing customers.”; the company initially launched in November 2019 with a waitlist of about 3,500 customers; Bó only managed to acquire about 11,000 customers in total with most of them being friends and family of the bank. Altfi

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