British lender NatWest has launched a digital bank to compete in the U.K.’s thriving fintech space.
NatWest — a subsidiary of RBS — launched cloud-based bank Bo on Wednesday, with the service going live on both Apple’s App store and Google Play.
Those who sign up to the digital bank will be sent a bright yellow Visa card and access their account via Bo’s mobile app.
Bo was designed to help people manage their money, according to NatWest, and includes features to help users budget, set savings goals and access “great Visa exchange rates” when using their card abroad. Users will also be instantly alerted whenever they use their card.
“As we’re part of NatWest, people can rely on Bo to keep…