In today’s full year results released by RBS, CEO Alison Rose commented on the success of the move back into merchant acquisition through Tyl by NatWest, as part of RBS’s overall vision to help businesses and communities thrive.

Highlighting “positive customer advocacy, over 1 million transactions processed and over 1,000 merchants onboarded”, Rose stated. “We are very proud of our re-entry into merchant acquiring via our new proposition, Tyl, which is an innovation that is already making a difference to our customers.”

The SME sector is of critical importance to the current and future economy both in the UK and globally. In the UK, 99.9% of business in Britain are SMEs – they generate 51% of all UK business turnover and employ 60% of the working UK population.

Al Lukies CBE, Founder and CEO of Pollinate, commented: “We are hugely proud to have worked hand in hand with RBS to create Tyl. We are committed to supporting SMEs – a critical part of all local economies.  Successful collaboration and innovation between fintechs and banks is critical to create the customer solutions of tomorrow and we are delighted with what we are achieving with RBS.”