A Tipping Point in UK Banking Culture?
A key driver of this trend is fintech innovation, with new standards being set in customer control and experience in banking products. Fintech innovators have been catalysts for this change which is now at an industry tipping point, as many large banks begin to follow early adopters.
“It’s time now for all providers to join the party and use the momentum behind this positive change for the good of their customers.” Antony ElliottView Press Release
Chief Executive, The Fairbanking Foundation
Published in February 2017, this is the fourth Ratings Report by the Fairbanking Foundation which analyses a record number of financial products in a total of eight categories.
The categories are current accounts (with and without overdraft), savings accounts, credit cards and personal loans, while mortgages, children’s savings and student current accounts are evaluated for the very first time.
Customers now have the right to expect better service and better products from financial service providers.Fairbanking Ratings Report 2017