Innovation in Banking: Fidor bank – banking with friends – get rewarded for liking your bank

Innovation in Banking: Fidor bank – banking with friends – get rewarded for liking your bank

When was the last time you ‘liked’ your bank’s official Facebook page? Or Re-Tweeted something positive about them? What did you receive in return for highlighting this bank to your friends? At Germany’s Fidor bank (Banken Mit Freuden) each social interaction you have with the bank is rewarded. Social banking is at the heart of its business model.

Can the City ever be good for Society?

Can the City ever be good for Society?

Since the Financial Crash in 2008, the City has quite rightly received its fair share of criticism for what went wrong. There are simply no excuses for the pain and misery they have caused to millions of citizens in this country and Lord Adair Turner’s (as Chairman of the FSA) words in 2009 that “The City has grown too big and parts of it are “socially useless” seemed to strike a chord with the public at large. Meanwhile, the topic of bankers bonuses still makes the blood boil of ordinary citizens of this country and they struggle to comprehend why senior bankers didn’t go to prison for the crisis they caused.

Launch of New City Agenda

Launch of New City Agenda

Today sees the launch of New City Agenda with Sir Richard Lambert, giving a lecture in Parliament on Culture and Banking Standards.

Today’s event also marks the introduction of our own Project looking at ‘How should we change the culture of banks?’ Whilst many have diagnosed the problem, there is a need for further examination of how this positive change can be achieved and how progress should be measured.