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Royal Bank launches ‘Tyl’ to help Scottish business build for the future

Royal Bank of Scotland has announced the launch of a new, innovative payment partner in Scotland. ‘Tyl’ is designed to make it easier for small business customers across the country to receive payments and maintain cash flow during COVID-19 and beyond.

royal bank of scotland business plan

Part of the bank’s portfolio of innovation ventures, Tyl enables small businesses to accept Chip & PIN, contactless and telephony payments either in-store, over the phone or online using a mobile terminal. 

The launch to Scottish customers is part of a strategic rollout across the UK with the Tyl team having worked collaboratively with UK based SME customers to design and deliver a new proposition suited to their needs.

Tyl provides next-day settlement for users, ensuring money is in their bank account the next business day, which has been a crucial factor in assisting businesses with cash flow during the coronavirus pandemic. Tyl has helped SMEs adopt social distancing guidelines efficiently by helping them adapt their business from in-store to online or collection models, a reaction to increasing consumer preferences for contactless payment methods. Tyl has gone further in its commitment to supporting small business during coronavirus by waiving terminal and 3G fees for Tyl until the end of 2020.

Tyl aims to have terminals with customers within 24 hours of ordering and provides straightforward customer on-boarding and simple pricing, Tyl also provides smart data-led insights to help its customers make informed business decisions. Scottish customers will have access to a sophisticated card acquiring capability (in-store and online), as well as tools to help them manage and grow their business and give back to their local communities.

Malcolm Buchanan, Scotland Board Chair, said: “With COVID-19 driving a significant shift in the economic landscape, we recognise our role in helping to support businesses and we are proud to launch Tyl to our Scottish customers.

“Tyl is the latest development in our portfolio of innovative, customer focused ventures as we seek to maintain our commitment to developing new technologies that enable our business customers to meet the daily challenges they face, whilst also helping to build resilience and provide opportunities for growth.”

Mike Elliff, CEO, Tyl said: “ Tyl is designed to help make it easier for customers to receive payments and maintain cash flow during this difficult time.

“Developed in partnership with our SME customers, we hope to support Scottish businesses with straightforward set-up procedures, simple pricing and next working day settlement as well as by providing insightful data, enabling businesses to make informed decisions and create more meaningful customer relationships.

“At Tyl we also want to champion business as a force for good, building better communities across Britain, one transaction at a time. The Tyl giving pledge commits to giving a proportion of revenue back to local community initiatives.”

This article is for media use only and is not a financial promotion.

Eligibility criteria and fees apply.

Waiving of terminal hire fees represents a saving of between £16.99 and £21.99 per month (+VAT) depending on choice of terminal from 1st April to 31st December 2020.

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Our plan to change our parent name

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We’re now NatWest Group

Come and visit us for all our latest news, insights and everything NatWest Group.

royal bank of scotland business plan

We have announced that we plan to change the name of our parent company from RBS Group plc, to NatWest Group plc. The name change will take effect on 22 July 2020.

Customers will see no change to products or services as a result of this change and will continue to be served through the brands they recognise today, including NatWest and Royal Bank of Scotland.

Similarly, the name-change has no impact on jobs and our employees will see no change to the way they work as a result of this change.

As we build a purpose-led bank focused on our customers, this is the right time to align our Group name with the brand under which the majority of our business is delivered. NatWest represents approximately 80% of our customer base.

What does it mean for customers?

Our customers don’t interact with RBS Group so this change won’t affect them. In England and Wales, most of our customers bank with NatWest. In Ireland it’s Ulster Bank and in Scotland they’re with The Royal Bank of Scotland. These high street brands won’t change as a result of today’s announcement. Scotland is an important part of the bank’s heritage and our commitment to our customers and colleagues in Scotland and to The Royal Bank of Scotland brand will remain unchanged. Our registered office and our three main key legal entities will remain in Scotland.

Will branches be impacted?

• This will have no impact on our branch footprint. • We have no plans for any branch closures this year but we always keep our network under review as we continue to respond to the changes in the way our customers are choosing to bank with us.

How long will the changes take to put in place?

We intend the name-change to be legally effective on 22 July.

What does this mean for jobs in Scotland?

• There will be absolutely no change in terms of jobs. • With more than 11,000 staff, The Royal Bank of Scotland is one of the largest private sector employers in Scotland. • The Royal Bank of Scotland supports 1.75 million personal customers in Scotland and more than 100,000 businesses. • We support Scottish customers with more than £20bn of lending, from business lending to mortgages and personal loans. This will not change as a result of the Group name-change.  

What will happen to the ordinary and/or preference shares I currently hold in the Group?

The ordinary and/or preference shares you currently hold in The Royal Bank of Scotland Group plc (‘shares’) will continue to exist once the name is legally changed, and so they will be the same shares but held in NatWest Group plc . There will be no change to nominal value or structure of your shareholding as a result of the change of name.

Will I receive a new share certificate?

If you hold your RBS shares in certificated form, you won’t receive a new share certificate in the new company name; your existing share certificate(s) will remain valid. Any share certificates issued following the legal change of name will be in the name of NatWest Group plc.

Will the shares continue to be listed on the London and New York Stock Exchanges?

• Yes, the Group’s ordinary shares will continue to be listed on both the London Stock Exchange and the New York Stock Exchange and the listing will be updated from ‘The Royal Bank of Scotland Group plc’ to NatWest Group plc, following the legal name change, anticipated to be effective later this year. • There will be no change to the American Depositary Receipt (ADR) ratio following the change of name.

Why are you doing this now?

Given the Group’s progress, solid financial footing and the forward-looking strategy it is now implementing, it makes sense to put in place a Group name with the brand under which the majority of our business is delivered. NatWest represents approximately 80% of our customer base.

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  10. Royal Bank launches 'Tyl' to help Scottish business build for the

    Royal Bank of Scotland has announced the launch of a new, innovative payment partner in Scotland. 'Tyl' is designed to make it easier for small business customers across the country to receive payments and maintain cash flow during COVID-19 and beyond. Part of the bank's portfolio of innovation ventures, Tyl enables small businesses to ...

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  23. When are your branches open?

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