Will The Government's Proposed Bank Comparison Site Be A Success?

Written by EO Executives on Aug 09, 2016

On a recent Radio 4 show, Alasdair Smith mentioned that customers are still very loyal to the banks that hold their current accounts, despite the fact that many are paying substantial fees for unauthorised overdrafts and have been for many years. 

If the financial impact of paying high overdraft fees isn’t a big enough incentive for customers to move banks, then is a government comparison site that requires the input of personal bank details really the tool that is going to change that behaviour?

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The Key Advantage Challenger Banks Have Over The High Street

Written by EO Executives on Jul 27, 2015

For decades high street banks have had an unshakeable grip on the consumer banking market, but with over 20 applications in flight for a banking license with the FCA from new ‘challenger’ banks, should the High Street banks be worried?

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The 4 Essential Behaviours Of A Future CRO

Written by EO Executives on Mar 12, 2015

The high level of recent fines has served to highlight the fundamental importance of the CRO to the point that the acronym CRO could now stand for “Court Repellent Officer”!

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De-Risking your Hires in Financial Services

Written by EO Executives on Oct 30, 2014

Deception and Detection – De-risking your hires in financial services

Having spent more than a decade networking, recruiting and operating across the financial services sector with some of the brightest minds in risk we remain staggered at how little risk management process goes into executive hiring.

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Eliminate Hiring Risk

Written by EO Executives on Aug 05, 2014

I work with and represent some of the brightest thought leaders in the risk industry in the country.  However, I am often staggered at how little risk management they put into their own Executive hiring processes! 

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Conduct Risk - is it all in the culture?

Written by EO Executives on Jun 20, 2014

Are organisations today looking too much at the rule book and not enough at day to day behaviours and their working culture? The latest “Risk Outlook” published by the Financial Conduct Authority urges Boards to make sure that their sales staff behave well and care for long term customers, placing consumer interests at the heart of the business.  These are good intentions, but how should we define good behaviour in practice, so we can report and measure it?

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Challengers the big threat? Don't bank on it !

Written by EO Executives on Jun 04, 2014

Challengers the big threat? Don’t bank on it!

What I am hearing :

If we believe the recent press, the FCA has around 29 applications for a banking license “in flight”. I suspect the real number of qualified applications is however somewhat lower. The big retail banks are spinning off clean start, banks, TSB, Williams & Glyn, and I am sure there will be more. This could be a crowded space if we are looking at vanilla banking !

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How to keep it simple

Written by EO Executives on May 16, 2014

As a profession are we in danger of over complicating compliance? We have a substantial (and growing!) regulatory regime to meet, however the spirit is all about acting in the customers best interests. Having provided numerous Compliance subject matter experts for both Interim and Permanent roles, the most successful engagements show some common traits that are worth sharing:

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"I want to start a bank!"

Written by EO Executives on May 01, 2014

It’s late March, the phone rings, a High Net Worth entrepreneur with the opening line:

“ I want to start a Bank, can you give me a CEO?”

This got our team thinking! April, and the FCA have confirmed 29 firms have applied for authorisation to become banks. The red tape is being loosened, last summer the regulator relaxed the rules for new entrants and the minimal capital requirements have been lowered to encourage start-ups. We understand it took Metro Bank nearly two years! However, recently we have seen private equity buy smaller regional banks to acquire a license.

So, what are the top five challenges of starting a Bank?

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