Anyone who has read Bad Banks by Alex Brummer will understand that comments like those in Will King's latest blog are the tip of the iceberg.
People have lost faith in the banks. They trusted them for generations and now, after the crash and a surfeit of scandals, abuse of position, rip-offs and self-serving behaviour, it's over. Enough is enough.
This loss of trust is visceral and will not be changed by facile advertising and the passage of time. Banks will be UNbundled, not just because fintech competitors can, but because the banks are UNacceptable.
Their IT, ops and business model cannot pivot. Their scale cannot stop this. They are vulnerable.
THE TIRES, THE BRAKES. THEY'RE WORN OUT. BANKS HAVE CROSSED A YELLOW LINE. Having had years to get it right following the banking crash of 07/8, to reassess their safety and behaviour to their customers, in the retail sector, it's still bad news for customers. The use of current account charges to snickle people into debt is still rampant (thank goodness for Ffrees, which is transparently NON-bank like in displaying it's charges) let alone the ongoing belief that Banks think people will like them if they show ads of horses through the ages, or are seen helping older people out on the internet. What Banks have to realise is 'There Comes A Time To Stop" and completely reset what you are doing,