Fairbanking Foundation awards first accreditations
The Fairbanking Foundation has granted only four of its new accreditations to banks and building societies.
The research charity is dedicated to helping banks improve the financial wellbeing of their customers, and in following its mission it assesses products to see whether they allow people to better control their money and achieve their financial goals.
Awards are given in three, four or five star variants and are, in part, aimed at shifting focus away from headline rates.
Products formally granted a three star status are as follows:
RBS/NatWest’s “Your Savings Goal” (savings account category).
Saffron Building Society’s Goal Saver (savings account category).
Secure Trust Bank’s Current Account Secure (current account without overdraft category).
thinkbanking’s Current Account (current account without overdraft category).
Foundation director, Antony Elliott, comments: “Many firms have yet to ‘see the light’, but an increasing number have – and these enlightened organisations are talking to us already about plans to improve their product offerings.”
He adds: “The is just the sort of positive catalyst the foundation is aiming to be and we are excited about the extent to which the Fairbanking marks programme is already encouraging the industry to move in a much more customer-oriented direction.”
Category: Banking News, NatWest News, RBS News
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