Banking Competition Remedies Ltd (BCR) publishes progress updates on Public Commitments from Pool E Capability and Innovation Fund recipients

The Board of Banking Competition Remedies Ltd (BCR) today publishes progress updates for Pool E recipients, providing a summary of performance against their public commitments to the period 30^th November 2021.

The public commitment updates this reporting period has seen several launches of new solutions for UK SMEs. They also indicate funding is being swiftly deployed to create impact in the market through marketing campaigns and partnerships.

Awardees progress against public commitments made can be found here. There have been no changes to business cases for Pool E awardees during this quarter, but it is anticipated that there will be a number during the next reporting period.

Aidene Walsh, CIF Executive Director, said: “BCR is pleased to see marketing campaigns and awardee partnerships with larger institutions enabling awardees to build traction in the market. Despite some awardees experiencing delays on the delivery of initiatives due to high levels of competition for talent and continued government lending intervention impacting targets, awardees remain strongly focused on robust delivery in creating competition for UK SMEs.”

A summary of performance against awardees public commitments can be found in the notes to editors, with links to the full updates provided above:

Pool E fifth quarter update

• Virgin Money UK PLC public commitment progress update
• ClearBank Ltd public commitment progress update
• Ebury Partners Limited public commitment progress update
• MarketFinance Limited public commitment progress update
• Funding Xchange Ltd public commitment progress update
• Codat Limited public commitment progress update
• ezbob Ltd public commitment progress update
• Fractal Labs Ltd public commitment progress update
• Previse Ltd public commitment progress update

The next progress updates for Pool E awardees will be in April 2022. Pool A, B, C and D awardees will provide their next progress update in February 2022. Additionally, Pool F awardees will provide their first progress update in February 2022. For more details on how BCR monitors CIF awardees see here.