Ross McEwan RBS


The bank appears to be building a customer charter in its efforts to regain trust and confidence:-

"RBS will be a smaller, simpler and smarter UK focused bank that puts the needs of its customers at its core.

We want our customers to trust us more, and to do more business with us which, in turn, will improve the performance of the bank.

By 2020, we aim to be the number one bank for customer service and the most trusted bank in the UK.

We will put customers at the core

We are announcing a series of changes to the services and products we provide to UK personal and business customers.

We will stop offering different rates to customers online or in branch. Customers should be able to bank with us in the way that is best for them and not pay more for doing so

We will stop offering deals and products to new customers that we are not prepared to offer our existing customers. We have banned teaser rates on any product. This means, for example, that we will no longer offer 0% balance transfers for credit cards. These changes will start from mid-March

We will put hundreds of business bankers back on the high street in our branches to help small businesses open accounts, apply for loans, and get the help they need

We will stop confusing our customers with complicated language they cannot understand. By the end of this year we will be able to explain all of our personal and SME charges on one side of A4 in simple language

By the end of this year we will halve the number of personal and SME products on offer. We will make it easier for customers to choose a product that suits their needs best, rather than the needs of the bank

We will make all but the most complex small business lending decisions in five days, not five weeks

We will cut how long it takes to open a personal current account from five days to next day by the end of this year. "

At an organisational level the simplification theme will see three divisions instead of seven, and a concentration on being a UK bank focused on its customers. The aim is to see a smaller, smarter, more efficient bank. The banking industry should wish Ross McEwan well, there is a collective interest in restoring trust and confidence in banking, and when RBS achieves its goals, it is likely the industry will have too.