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British lender NatWest has launched a digital bank to compete in the U.K.’s thriving fintech space.

NatWest is a subsidiary of RBS and launched the digital bank Bo on a separate cloud based infrastructure.   

“As we’re part of NatWest, people can rely on Bo to keep their money safe,” Bo CEO Mark Bailie said in a press release Wednesday. “But as a digital bank, built entirely on a separate cloud-based technology, Bo is also able to harness new technology and develop rapidly in line with our customers’ needs and expectations.”

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challenger banks