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OFCOM PROPOSES AUTOMATIC COMPENSATION FOR POOR BROADBAND OR LANDLINE SERVICE

Ofcom is proposing automatic compensation for poor broadband or landline service. Here is what consumers could be eligible for: :: Delayed repair following loss of service When is compensation available? A loss of service that is not fully restored after two full working days have elapsed. Level of compensation? £10 for each calendar day, after […]

BT OWNED PLUSNET FINED FOR WRONGLY BILLING 1000 CUSTOMERS

Plusnet, an internet service provider owned by BT, has been fined £880,000 for wrongly billing more than 1,000 former customers. An investigation by watchdog Ofcom found that the ISP broke a fundamental billing rule by continuing to charge a group of customers for landline and broadband after they had cancelled services. In total, customers were […]

BANK CUSTOMERS WHO PAY BY CHEQUE WILL SOOON GET NEXT DAY CLEARANCE

Bank customers who pay cheques into their accounts will soon be able to get the money cleared within one working day. At the moment, the process can take up to six days. The organisation that manages the cheque clearing system said the changes would be phased in from October 2017. However, it will be the […]

BANK OF ENGLAND PLACES THE CO-OP BANK UNDER ‘INTENSE SUPERVISION’ AS SURVIVAL OPTIONS DWINDLE

The Bank of England has placed the Co-op Bank under “intensive supervision” as survival options for the ethically-based lender dwindle. The BBC understands contingency plans to ensure the “orderly failure” of the 150 year old bank are well advanced. Co-op Bank customers will be protected whatever happens, but professional investors took a beating on Wednesday. […]

GOOGLE APOLOGY OVER EXTREMIST CONTENT ON YOU TUBE PLATFORM ‘DOES NOT GO FAR ENOUGH’

Google’s apology over Government adverts appearing alongside extremist content “doesn’t go far enough”, chair of the Home Affairs Select Committee Yvette Cooper has said. The technology firm’s Matt Brittin had told a conference earlier on Monday that “I want to start by saying sorry” and that the company must “take responsibility” over the issue which […]

UK BANKS INVOLVED IN MULTI-BILLION POUND RUSSIAN MONEY-LAUNDERING SCAM

Some of the UK’s top banks allegedly processed around £600 million in a multibillion-pound Russian money-laundering scam. High street names including HSBC, the Royal Bank of Scotland, Barclays and Coutts are among those involved, The Guardian reported. More than £16 billion and maybe as much as £65 billion was moved out of Russia between 2010 […]

Beyond Banking: The Rise of Social Finance

Steve Bell, VP Solutions Consulting, EMEA, Verint The banking industry has had a major face-lift over the past decade. What once was a sector reliant on face-to-face and telephone interactions, is now being driven by digital platforms. As a result, branches are closing up and down the country. Furthermore, digitally driven banks such as Monzo […]

FOUR IN FIVE CUSTOMERS FRUSTRATED BY INCONSISTENT RETAIL EXPERIENCES

Not only do today’s shoppers expect a great service experience, they want it to be integrated and harmonised across channels. According to recent research by Manhattan Associates, two thirds of shoppers say they expect a consistent cross-channel shopping experience, yet just 22 percent claim to enjoy such an experience today. With 68 percent stating they […]