How did NatWest Group help?
NatWest Group, through its asset finance arm, Lombard, reached out to support the RYA with its climate ambitions. The Local Relationship Manager held meetings with key staff to highlight the various avenues where the NatWest Group could assist the business. This began with completion of the Carbon Planner, which following input from the client, gave an evaluation of the business progress and highlighted other areas available to help reduce its carbon footprint.
An area of support that interested the clients was an electric vehicle (EV) assessment which Lombard provide through a platform known as Diode. Diode has been working closely with NatWest Group to develop and pilot a first-class digital journey, creating a one-stop-shop for SMEs to transition to EVs. This includes access to Diode’s EV suitability assessment, instant driver readiness report, dynamic business insights dashboard and links to NatWest Group’s existing collaborations, such as with Octopus Energy.
90 members of staff at the RYA completed Diode’s EV suitability assessment. The data showed that 44 staff who use their own cars are interested in their next car being an EV. It also showed that 10 staff who use company car drivers would also consider their next vehicle being an EV. Relevant staff members and the business received copies of the assessment to allow further discussions, and Lombard has advised that it can support further on this as required.
Another area where the bank has supported the business is in the processing of cheques: the business has historically received and processed 2,000 to 3,000 cheques per year using a security firm to collect them.
Discussions highlighted scanning software which could be used by the client directly. The machine costs approximately £1,000 as one-off spend and enables costs savings by allowing staff to process cheques, rather than continue with the physical collection by a security company.
What’s next for the business?
The RYA has ambitions to build a new Performance Centre to drive innovation both to aid the performance of the British Sailing Team and reducing the need for international travel.
Lombard referenced its Green Energy loans scheme and is in discussion with the RYA on how it could potentially support the funding of ambitious new technology. The RYA is continuing to discuss how NatWest Group might assist in creating a finance package to enable it to build a facility that meets all of its future needs.
*www.rya.org.uk/about-us
