This report reveals, in very practical terms, how the deeply troubled UK financial sector could be transformed by learning from the commercial insurgents banging on the gates of the banking fortress. These companies and initiatives are tiny when compared to the behemoths controlling global banking but they are giants in terms of creativity and customer care.
The report argues that banking has a once in a lifetime opportunity to change for the better. By learning from the newest players and by allowing them to grow, that change can be built around an inspiring vision of the future with the customers’ interests at its heart. None of this is rocket science. Indeed the report argues that banking needs to get back to basics, with services designed to meet the most basic needs for saving, money management and responsible borrowing.