Company: Royal Bank of Scotland plc
Brand value: US$1,163 million
Change since 2019: -23%
Headquarter city: Edinburgh
Year formed: 1727
RBS is a heritage brand in the banking sector, and is investing in the latest technology in order to remain relevant to new generations of consumers. Having earlier expressed an interest in buying digital bank Monzo, RBS launched its own online-only standalone rival, called Bó, in late 2019, but this was closed within a few months. To engage millennials with its standard banking offerings, RBS is using Spotify as a marketing tool, with sponsored “Easy Wins” sessions highlighting the ease with which RBS services can be used. The segments are aimed at helping millennials better manage their finances. RBS is to change its name to NatWest Group this year, though RBS branches will continue to carry the RBS branding.
RBS plans to reduce its energy consumption by 40 percent of 2015 levels by 2025, is switching to electric company cars, and encouraging staff to switch to electric vehicles by installing more charging points. RBS is also partnering with social enterprise auticon UK, which employs IT consultants who are on the autism spectrum.