The last 20 years have seen significant changes to banking, where the main UK retail banking market now consists of just six major groups with circa £18 Trillion retail assets, compared to the mid-tier banking sector, which has just 14 banks and building societies and £360 Billion in assets.
Changes to the global economy, continued advances in technologies and growing customer demand have transformed what individuals now want from banking; causing the mid-tier sector to fall behind. However, simplistic but effective changes to existing corporations, such as an increase in consumer choice and new products, like savings accounts, will allow the mid-tier to scale, increasing the resilience of the UK banking system as a whole. At Equantiis, we boast extensive experience in helping mid-tier banks resolve their complex challenges to drive this growth whilst delivering transformative outcomes that deliver effective results.