The Royal Bank of Scotland (RBS) is undertaking a proof-of-concept with Ripple technology as part of its £3.5bn technological revamp. Chief administrative officer Simon McNamara announced the initiative during a webinar on the bank's three-year transformation plan last Thursday, just one day after a glitch which caused 600,000 payments to go missing. The banking group, which has been plagued by a series of IT failures across its four brands, RBS, Natwest, Ulster Bank and Coutts, is now looking to boost its image as an 'innovation leader'. Addressing the RBS investors and analysts on the webcast, McNamara said: "I don’t know what’s going to succeed. What I'm certain of is that we are going to see blockchain solutions, peer-to-peer solutions emerging in our industry and we want to be close to that development."

http://www.coindesk.com/rbs-trials-ripple-part-3-5-billion-tech-revamp/