How to instil cultural change, and the banks where customers are already treated like kings
We are years on from the financial crisis and the unprecedented taxpayer bailout of the banks. But the sector still has a long way to go to regain public trust.
The reputation of the banking industry remains in tatters following a succession of scandals including PPI mis-selling, Libor rate-fixing, and helping clients dodge tax.
Just 36 per cent of the British public trusts the banks, according to Edelman’s Trust Barometer, a major annual survey.
So how can banks rebuild public confidence?
How can the big high street names turn the tide of negative perception and instil cultural change in their businesses?
Regulators are tightening up on the way banks are run. But could this tide of regulation also stifle innovation?
Our event maps out the journey to create better banking in the UK.
It will showcase existing good practice.
For example, quiet success stories like Handelsbanken, where decision-making is decentralized to branch managers, and staff do not have sales targets or bonuses which could distort the customer service they provide.
The Swedish bank, which has 180 branches in the UK and grew its net income 33% last year, provides a possible blueprint for other banks seeking satisfied customers and profitable growth.
Competition from new “challenger” banks is also shaking up the established order. New players such as Metro and the soon-to-launch Atom offer a banking proposition that is untainted by past bad behavior. Will they improve standards and what can established players learn from their offerings?
What will the banking winners of the future look like? Traditional players who reinvent themselves with more ethical and responsible practices, or the game-changers and disruptors injecting new vigour into the market?
Join us to find out.