UK focus on bank services

From next year, banks in Britain will have to publish data every quarter to show the quality of service they provide to customers to try to boost competition, the Financial Conduct Authority has proposed.

Performance based on set criteria should be measured every three months from April 2018, and published on a bank’s website within six weeks of the end of the quarter, said the authority.

First publication is expected in mid-August 2018, with issues to be evaluated including the pace of setting up new accounts and how banks respond to reports of lost or stolen cards.