Loot was a startup that offered a current account for millennials; last month it went into administration after they ran out of money; now the founder of Loot, Ollie Purdue along with 17 other colleagues are joining the digital bank developed by RBS called Bó; Purdue will be chief product officer and will report to the current CEO Mark Bailie; Bó has still yet to launch and is being built from the ground up using a separate technology platform from RBS’ current offering; according to sources they are almost ready for launch and are currently testing with 1,000 RBS employees; interestingly, RBS was also a backer of Loot and was allegedly looking to acquire the startup before pulling out. Source
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