Report: "Banking on Trust: Engaging to Rebuild a Healthy Banking Sector"
The BankingFutures dialogue, facilitated by Leaders’ Quest and Meteos, explored how to rebuild a healthy UK Banking Sector...The report launched on 1st February 2016, is a response to an earlier consultation document produced by the BankingFutures Working Group.The three key recommendations are:
- Banks to better serve the real economy’s current and future needs.
- Bank leaders commit to work with the Investor Forum to create banking and investment cultures that enable the sector to deliver long-term value.
- Bank leaders commit to a public process involving consumers, civil society and regulators to improve their duty of care and respect for customers.
“The financial crisis was a painful reminder that commercial banks should operate for the good of the public, their customers"...says Andrew Bailey, Deputy Governor Bank of England.
“Our starting point is that banks are here to serve. Society needs to tell us how, and then we need to meet those requirements. However, it’s also our responsibility to help society express informed choices. We have a collective challenge that our voice is currently absent from these debates,” comments John Flint, Chief Executive, Retail Banking and Wealth Management, HSBC