If we were designing Britain’s banking system from scratch, would it look like the one we have today? After the credit crunch, the Libor scandal and RBS’s recent computer glitches, the answer has to be no. So what would a banking system that has the trust of customers look like? It would help to think of high street banking services in the same way as basic utilities such as water or electricity.
Just as millions of us depend on the water companies to keep the water flowing and our lives working, so we rely on the banks in the same way. Indeed, when a bank’s computer system fails and customers cannot get hold of their money, we feel it as keenly as a burst water