5 Results from 2019
Andrew Stevens Global banking and financial services specialist at Quadient
Last week, HSBC and Santander agreed, following CMA action, to refund customers after they both broke a legal order relating to unarranged overdrafts. Part 6 of the CMA’s Retail Banking Market Investigation Order means banks must send customers text alerts if they’ve exceeded their arranged overdraft limit, with banks unable to charge customers u...
02 December 2019 /regulation /retail Banking Regulations
Not a lot of things seem certain in the UK economy at the moment, but most people seem to agree on the fact that the Bank of England may well raise interest rates in the not-too-distant future. As any lender or homeowner knows, this means significant changes both for mortgage holders and providers, and over the longer term, increased costs. These...
30 October 2019 /retail Customer Service 2015-2019-2025
Which? has released a research report showing more than a third of bank branches have closed in the last five years. The consumer group found that 3,303 branches closed between January 2015 and August 2019, leaving just over 6,500 branches open in the UK. It was concerning to see that the closures were led largely by the ‘Big Four’, with RBS Grou...
08 October 2019 /retail Disruption in Retail Banking
The Competition and Markets Authority has published its latest personal banking service quality report. The survey asked UK current account holders how likely they would be to recommend their provider to a friend, relative or other business. When the CMA launched this report six months ago, it seemed a natural fit when most customers rated a bank w...
16 August 2019 /retail Banking Strategy, Digital and Transformation
Mobile banking applications have become a common resource for customers over the past decade, from checking balances to transferring money between accounts and setting up new payments. The boom in digital-first challenger banks such as Monzo has seen high-street banks roll out new app features to compete and keep pace with customer trends. With f...
15 August 2019 Online Banking
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.