Royal Bank of Scotland is proposing to set up a standalone digital bank. It will be a small, app-only bank with low fees. While not confirming the report, a spokesperson for the bank said the bank intended to launch new approaches to keep pace with rapid change in the industry. She said the bank is focused on using automation and technology to deliver a more efficient banking experience that better reflects the changing way its customers now bank. Reports said RBS had assigned staff to the project, which was in the early stages and may not result in a new bank coming to market.
