Banking Standards Board Annual Review 2016-2017

The Banking Standards Board (BSB) published its annual review for 2016-2017. Collecting the views of more than 28,000 people working in banks and building societies across the UK, the BSB annual review gives an overview of the entire UK banking sector, and enables banks to compare themselves to other banks.

This years’ report highlighted a number of issues that still plague the banking industry, with 13 percent of bankers saying it is difficult to progress in their careers without “flexing ethical standards”, while one in eight bankers had said they had seen instances where unethical behaviour had been rewarded. Similarly, sixty percent agreed that “our internal processes and practices are a barrier to our continuous improvement”, suggesting the need for a cultural shift along with an operational overhaul.

Conversely, ninety percent of those surveyed said that people in their organisation had the skills and knowledge to do their jobs well and most colleagues would go the extra mile for customers.

While there are still ethical issues facing bankers, it’s clear the individuals working in these banks need greater organisational change in order to take a truly customer-oriented approach to all activities at their banks. That’s why we at the RBA are on a mission to professionalise Retail Banking, offering Retail Bankers across the world the opportunity to become professionally educated to a certified standard, while sworn to abide by the Retail Bankers Oath – RBA’s professional code of conduct and ethics.




Retail Banking Academy news roundup – 13/03/2017

TD Bank under pressure over sales tactics claims

“Shares in the bank dropped more than 5 per cent on Friday — the most in more than eight years — after reports by the Canadian Broadcasting Corporation accused TD of a catalogue of Wells Fargo-like sales abuses.”

Goldman Sachs: Shadow banking has made China’s credit markets increasingly complex and opaque

[Authors] Ho and Cui estimate that China’s relatively new asset management industry had RMB 91.1 trillion under management as at June 2016. Of that, approximately RMB 32.1 trillion was invested in Non-Standard Credit Assets (NSCA). NSCA’s “reflect the fact that such credits are conforming to neither bank loans nor bond market standards”, the report says.”

HSBC names AIA’s Tucker as chairman in break with past

“HSBC  broke with tradition by choosing outsider Mark Tucker to replace Douglas Flint as chairman later this year, handing the AIA Group boss the task of selecting a new chief executive for Europe’s biggest bank in 2018.

Lafferty Daily Briefing – 13th March 2017

Lloyds Banking Group has struck an agreement to move some of its computer systems and cybersecurity services to IBM, with almost 2,000 staff due to be shifted over to work for the computer business.”

The Retail Banking Academy is the only international training academy that offers qualifications exclusively dedicated to the best practice principles in retail banking from the practitioner’s point of view. We are committed to making the Certified Retail Banker qualification (CRB) the recognised industry standard by making it possible for ambitious retail bankers worldwide to embark on a structured programme that sets the highest standards of ethics, education and customer-oriented retail banking excellence.