From mis-sold payment protection insurance to outrageous overdraft charges, the UK’s banking industry hasn’t traditionally offered products that fully benefit its customers and their PR people have long had to battle with unwanted media attention. But maybe things are about to get better.
Greater regulation and bank initiatives such as NatWest’s “Customer Charter” are positive steps in the right direction and now there is a great new initiative from The Fair Banking Foundation. The charity (which promotes fairness in banking and the creation of projects that are socially useful) is now offering an innovative accreditation for banking organisations which demonstrates commitment to providing financial products that truly benefit customers.
The Fairbanking mark will work on a similar basis to the restaurant industry’s Michelin stars in that it will only award the crème de la crème of banking products with its signature approval. The accolade covers all the essential banking products including credit cards, current accounts, non-debt current accounts and regular savings accounts.
Maybe if this is a success financial services PRs will get to spend more time talking about the positive things in life for a change.