EY: Banks to build trust by demonstrating they're offering competitive current accounts

Posted On: 
12th December 2017

Hamish Thomas, EY Financial Services Partner, comments on today’s FCA announcement on greater comparability of current accounts:

“Increasing transparency around service delivery for banking customers is good news. This is another opportunity for banks to build trust with their customers by demonstrating they are offering competitive current accounts and promoting choice. Alongside initiatives such as Open Banking and PSD2, this is a step in the right direction to enable more informed customer decisions. As part of this, putting a spotlight on vulnerable customers, and supporting financial inclusion is key, and it will be interesting to understand what this will mean in practise for banks.”