High street banks team with fintech firms to produce collaboration toolkit
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Royal Bank of Scotland, Barclays, HSBC UK, Lloyds Banking Group, and Santander have teamed-up with financial technology firms to craft a set of guidelines designed to improve engagement between fintech startups and established financial institutions.
The new guidelines have been developed by the British Standards Institute through sponsorship from the government-backed Fintech Delivery Panel as part of HM Treasury’s Fintech Sector Strategy.
This includes recommendations on preparation, data gathering, due-diligence, on-boarding, commercial and contractual processes, as well as data protection and information security considerations.
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