Fairbanking Reports

In addition to carrying out in-depth consumer research and analysis, a key part of The Fairbanking Foundation’s work involves producing and publishing authoritative reports to share the findings and conclusions from this research with any and all interested parties.

Below is a list of the Fairbanking Reports that have been produced up to now, along with a brief synopsis of each reports’ subject matter. To download a PDF simply click on the report covers below.


March 2017

Published by: The Fairbanking Foundation
By: Antony Elliott and Melanie Worthy

The report “Customer vulnerability and current accounts – a review of UK practice” concludes there are serious service gaps in the current accounts that UK banks offer to customers in vulnerable circumstances who live with mental health conditions that can significantly affect their decision-making (such as dementia or learning disabilities), or long-term physical health problems that can lead to financial difficulty and debt (such as cancer).

The survey covers the current accounts of six leading financial institutions, including four of the ‘UK Big Five’ banks, which represent 75% of the current account market in the UK. The analysis concludes that there are substantial shortcomings in the areas of:

• Protecting customers in vulnerable circumstances from scams and fraud,

• Recognising the need for additional support of customers early enough,

• Dealing with any dependency arrangements in a coherent way

February 2017

 

Published by: The Fairbanking Foundation
By: Antony Elliott

This report highlights the overwhelming evidence that’s shows that borrows that save whilst paying pack a loan become habitual savers. Research by the Fairbanking Foundation carried out by Ipsos MORI shows that 67% of save as you borrow users who had no savings, and found it impossible to put money aside, now have plans to save regularly throughout the year as a result of using a Save As You Borrow product.

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Previous Reports

Fairbanking Ratings: Reaching for the Stars

Published by the Fairbanking Foundation
By: Antony Elliott

Synopsis

This report reviews five core banking product types: current accounts with an overdraft facility, current accounts without an overdraft, savings accounts, credit cards and for the first time, personal loans. The ratings reflect the extent to which each product reviewed includes features that, when used by the customer, are likely to improve his or her level of financial well-being.

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Fairbanking Ratings:
Is UK banking showing signs of reform?

Published by the Fairbanking Foundation
By: Antony Elliott

Synopsis

This report from the Fairbanking Foundation shares the results of an extensive survey of UK banking products, rating each by how well it could help improve the financial well-being of the customer. This study provides a unique, timely and precise measure of how well the UK banking sector is performing its most important function for the benefit of the customer - helping them to manage their money better. This report was published in April 2011.

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Fairbanking Ratings: Socially Useful Banking

Published by the Fairbanking Foundation
By: Antony Elliott

Synopsis

The report rates core UK banking products by the extent to which they help improve the customer’s Financial well-being; a measure of much more than just how much money they have. FairBanking intended that by conducting this analysis and publishing the results, sharing clear and transparent ratings of these products (current accounts, savings accounts and credit cards), banks would be encouraged to compete increasingly on product attributes that help Financial well-being, rather than just over headline rates. This report was published in February 2010.

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A Better Kind of Banking

Jointly published by the RSA and the Fairbanking Foundation
By: Charlie Leadbeater
with Antony Elliott

Synopsis

In a paper that pulls few punches, it is argued that the people leading Britain’s main banks have a once in a lifetime opportunity to turn them into better organisations – ones that make money by working for the good of the customers, businesses and communities who depend upon them.

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Fair Banking the road to redemption for UK banks

Published by CSFI
By: Antony Elliott

Synopsis

This study involved extensive consumer research and analysis to develop a ‘Financial Well-Being Index’. It provides both a crucial insight into the factors that affect financial well-being and a method by which changes can be measured over time. This report was published in July 2009.

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Not waving but drowning:
Over-indebtedness by misjudgement

Published by CSFI
By: Antony Elliott

Synopsis

This report was actually written by Antony Elliott before he set up the Fairbanking Foundation, and indeed before the global banking crisis came along as a direct result of the progression of the unhealthy trends Antony identified and analysed in this insightful paper. It was published in March 2005 by the CSFI/NewYork CSFI

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