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Britain's big banks trying to catch up with fintech firms by making apps

HSBC, Lloyds Banking Group and the Royal Bank of Scotland are at various stages of producing cutting-edge apps that will allow customers to pull data from different accounts

Emma Rumney | Reuters  |  London 

British retail banks are poised to introduce money management apps to compete with those already launched by financial technology start-ups, betting their trusted brands, broad client base and deep pockets will help them make up lost ground. HSBC, Lloyds Banking Group and the Royal Bank of Scotland are at various stages of producing cutting-edge apps that will allow customers to pull data from different accounts, even those at rival lenders, on their mobile devices and home computers. They are playing a serious game of catch-up. Numerous fintech firms and digital banks like Monzo ...

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First Published: Mon, February 26 2018. 21:04 IST
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