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Fairbanking Foundation launches fair banking challenge

Antony Elliott previously worked at Abbey National for ten years

The Fairbanking Foundation, a non-profit charity focused on improving the financial health of consumers, has launched a drive to encourage banking providers to improve their products and achieve an additional 15 Fairbanking Mark certifications from the Foundation by October 2015.

BBA calls on Bank of England to protect challenger banks

The BBA has said regulators could do more to support competition between banks

The BBA has called for regulators to do more to improve competition in UK retail banking by making changes to the way payments, capital, access to funding and proportionality of regulation are handled and opening up more opportunities for challenger banks.

Strategic outsourcing is the norm for UK sell-side firms says BNP

Middle_and_BackOffice_Outsourcing_May2014-10

The outsourcing of middle and back office functions by banks and brokers is now the norm, with nearly all firms outsourcing at least part of their functions to specialist providers such as custodian banks.

Bank of England tackles “critical” cybercrime attacks

London

A major new effort spearheaded by the Bank of England and the UK Treasury has been launched to shore up the cyber defences of the UK financial services industry, amid rising concerns that testing has exposed serious unaddressed weaknesses.

Card costs still too high say retailers

Helen Dickinson BRC

Despite falling costs, banks are continuing to charge “unjustifiable” fees that rip off retailers and consumers as they move away from cash towards debit cards and other forms of payment, according to the British Retail Consortium’s Payments Survey for 2013.

Half of UK traders still flout mobile voice recording rules

Haworth:

More than two years after the UK’s FSA introduced rules on mobile call recording for financial institutions, more than half of those affected still have not rolled out a solution – leaving many at risk of enforcement action, according to a new report by analyst firm Ovum and computer telephony specialist Teleware.

ICAP’s new London SEF targets OTC derivatives

ICAP's Best:

ICAP has launched a swap execution facility in the UK, as part of a push to dominate both the European and the US OTC derivatives markets as they are brought under new regulation.

HSBC installs free wi-fi in UK branches

HSBC says there is strong demand for currency conversion online and at ATMs

HSBC has installed free Wi-Fi in 650 of its UK branches, bringing the bank into line with Barclays, which introduced free Wi-Fi in February 2013. Both banks signed deals with BT to provide the connectivity, which is managed by BT as a white label service.

Fair treatment of customers lies at heart of future says FCA director

Adamson: the FCA has made a "positive" contribution in its first year of life

New UK regulator the Financial Conduct Authority has made a good start in its first year of life and has helped to contributed to a “sea change” in the way conduct is viewed and treated by financial institutions, according to Clive Adamson, director of supervision at the FCA.

Santander well ahead in UK account switching race

Santander, Halifax and Nationwide are winning the most new customers, according to TNS

Santander is emerging as the main beneficiary of the battle to attract UK current account holders while NatWest and HSBC are losing ground, according to the monthly TNS Current Account Switching Index data for April.

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