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Banks’ should focus on rebuilding trust

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by Kay Mitchell

Research by consumer group Which? has found that more than three-quarters of people (77%) believe the UK banking sector should concentrate on rebuilding customer trust in 2010.

The research, which is based on an online survey of 2,145 adults aged between 16 and 64 in the UK from 29 December 2009 to 4 January 2010, comes ahead of the Which? Big Banking Debate, which to be held in London on 4 February between 5 and 8pm.

In the meantime, as part of banks’ New Year’s Resolution, 85% of people believe it’s crucial for banks to listen to their customers, while 83% think the Government should listen to both the banks and the public when deciding how to reform the industry.

Commenting on its findings, Which? chief executive, Peter Vicary-Smith, said: “Ordinary people are still feeling the repercussions of the financial crisis yet their voice has so far been missing from the debate about how to rebuild our banking system.

“Everyone uses banking services in some form or another so it’s only right that the public has a say in how banks can better serve society,” added Mr Vicary-Smith.

Those who would like to have their view heard can reserve a place at the Which? Big Banking Debate, or visit www.which.co.uk/banking

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News posted: January 8, 2010

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