HSBC is preparing to launch a new digital bank. Called Project Iceberg, the bank is reported to have recruited more than 100 people for the project, based in offices in the Aldwych area of central London. The stand-alone digital bank was expected to focus on small business customers and could launch as early as this year in beta testing mode. RBS and Santander are also setting up digital brands. An HSBC spokesman said the bank is always exploring ways to make commercial banking quicker, easier and more convenient, but declined to say anything on the project. Meanwhile state-controlled RBS is working on a digital bank from offices in Piccadilly.
