Antony Elliott, author of the report and Director of FairBanking, said:

“The truth is that banks in the UK have been doing the equivalent of selling faster and faster cars to their customers without ever improving the brakes. The results of this have been self-evident. 

“If the banks really do want to redeem themselves in the eyes of their customers, this study shows them precisely how to do it. It even provides a robust and entirely credible mechanism for the banks by which they can measure the improvement in their customers’ financial well-being, which they have helped bring about.”