It's not just us, you know.
Trade journal, paymnts.com, is sharply critical of the new banks challenging the financial establishment: " The U.K. is dominated by the so-called Big Five mainstream banks: Lloyds, Royal Bank of Scotland, Barclays, Santander UK and HSBC. With their decline in SME lending following the financial crisis, the U.K. saw a surge in alternative lending players.
"For Prime Minister David Cameron, who recently secured a sweeping victory in last month's general elections, these new competitors are good news, as the solution to the dominance of the Big Five, he says, is to promote the introduction of challenger banks – new, smaller banks and alternative lenders – and not to break up the existing leaders.
"But new research from accountancy group KPMG has found that these challenger banks that have so far emerged are often no better than the mainstream banks, and are in some cases even worse."
KPMG's report found that many of these challenger banks, which include players like Metro and TSB, are not sufficiently improving upon the failures of the mainstream banks in areas like customer service and financial products, making them less likely to actually pose as competition against the Big Five.
Witb some additions and subtractions - and a few switches between presentation and panel chairing - the latest day list for tomorrow's star-studded crowdfunding conference at the RAC is published. How to build a portfolio of loans with good yields? How to build a portfolio of equity stocks and while being mindful of risk? Discovering The Power Of The Crowd conference includes Money&Co.'s Nicola Horlick, Jeff Lynn of Seedrs.com and Cambridge University's Bryan Zhang, Julia Groves of Trillion Fund and the UKCFA (we think she's the curly, green-haired female icon on the right of the UKCFA illustration), James Codling of Venture Founders and Adam Braggs of CrowdneticUK. Fewer than half a dozen places remain available. This is your last chance!