By Adria Calatayud and Adam Clark

Royal Bank of Scotland Group PLC said Friday that it will wind down digital-banking app Bo as a consumer-facing brand and integrate its technology into Mettle, the group's online-only bank for small businesses

The U.K. lender launched Bo in November as a competitor to fast-growing digital banking services such as Monzo and Revolut. Its shutdown is one of the earliest strategic decisions made by new Chief Executive Alison Rose, who took up the role in November.

Bo's launch was marred by an authentication problem that forced it to reissue around 6,000 cards to customers. Head of the project Mark Bailie, formerly chief operating officer at the bank, departed in February.

Write to Adria Calatayud at adria.calatayud@dowjones.com and to Adam Clark at adam.clark@dowjones.com

(END) Dow Jones Newswires

May 01, 2020 06:12 ET (10:12 GMT)

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