The tsunami of claims triggered by the PPI scandal continues to roll on. Meanwhile, another seismic financial mis-selling outrage may be gathering steam. The UK financial sector continues to reel from the payment protection insurance (PPI) scandal that just seems to keep rumbling on. Until, that is, the Financial Conduct Authority slapped a deadline on claims relating to the … [Read more...] about Are Packaged Bank Accounts the New PPI Mis-Selling Scandal?
Increasingly, the landscape for savers post-Brexit is beginning to resemble a cold afternoon in Siberia. In what has been described as a ‘savings’ bloodbath’, rates have been culled after the Bank of England (BoE) reduced the base interest rate in a bid to stave off a seemingly inevitable period of recession. NatWest is the latest bank to join in the slaughter, cutting its ISA … [Read more...] about What are the fundamental differences between banks and building societies?
Over the last few years, we have seen a gradual change in emphasis in the way that we access our bank accounts and services. More specifically, leading providers have begun to usher in a digital age of banking, from the implementation of mobile apps and contactless payment to the deployment of technological advanced fraud squads. Of course, traditional banks have been forced to … [Read more...] about Will the Rise of Online Banking ever Sound the Death Knell for Lenders?
Since Brexit, we have all been debating the impact that leaving the EU is going to have on businesses, not only in the UK but also across the world. We have already seen the detrimental impact that Brexit has had on banks in the US and Europe. The day after the UK voted to quit the European Union, shares in big overseas banks fell from seven to 20 per cent. Of course, a lot of … [Read more...] about How will leaving the EU impact foreign banks?
It is a shocking statistic that in today’s society, a world full of technology and gadgets, there are more than 1 billion women who do not have any access to even the most basic of financial products. So concerned are financial institutions worldwide, that they are looking into effective ways in which they can assist in bridging this financial exclusion. In 2014 65% of men … [Read more...] about The Gender Gap in the financial services sector – How financial institutions are bridging financial exclusion