Feeds

Online banking condemned by small businesses

Lloyds TSB, BoS are especially pants

  • alert
  • submit to reddit

The essential guide to IT transformation

The small business online offerings of Britain’s leading banks are not good enough.

Despite spending millions of pounds trying to attract business customers and convince them to complete their transactions over the internet, the leading banks are failing to produce a satisfactory service.

In a poll of 500 small businesses, conducted by online finance intermediary Xbridge, 61 per cent of customers rated their bank’s business website as either poor or very poor.

Bank of Scotland and Lloyds TSB had customers most disgruntled, with almost three-quarters unable to obtain the services they required. HSBC faired only slightly better, failing to impress two thirds of its online customers.

According to the report, Abbey is the UK’s top provider of online business banking services, managing to satisfy over half of its customers, while Barclays also figured prominently among the nation's best.

The report highlighted that banks are producing expensive and complex websites with lots of guides and information, but not serving small business owners’ most simple requirements. It stated that the banks must leave help and advice to non-bank sources and concentrate on providing simple transaction and lending facilities.

Brad Liebmann, managing director of Xbridge, said: "The results show a remarkable lack to foresight by the majority of the UK’s largest lending institutions. Banks need to be more committed to delivering an effective customer experience online.

"Employing interactive technology capable of finding the appropriate financial solutions for individual small businesses would significantly increase the banks’ revenue derived online."

Copyright © 2004, Startups.co.uk logo

Next gen security for virtualised datacentres

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?