Interim findings from the BBRS Live Pilot
Lewis Shand Smith, Chair of the BBRS
15 May 2020
It has never been more important for British businesses to get fair treatment from their banks. Doing so will, in turn, safeguard the reputation of the sector. The Business Banking Resolution Service (BBRS) will play a vital role in making sure this happens.
That is why we are pleased to share some of the interim findings from the work we have been doing as part of a Live Pilot to help design a service which is as bold and innovative as it is much-needed, be that for past or future complaints.
In establishing our service we have recognised the need for a deep rethink of the way disputes between SMEs and their banks are handled. The Live Pilot is adopting a human and flexible approach, as an alternative to the stress and cost of seeking to resolve complaints through the courts.
The Live Pilot is a significant milestone on the journey to getting the BBRS fully operational for the benefit of all of its stakeholders. We will continue to learn from the Live Pilot as we move towards implementation later this year.
I’d like to extend my personal thanks and appreciation to the SME bank customers who have worked with us on the Live Pilot. The experiences they have contributed will go a long way to helping them and many others benefit from our important public interest mission in the future.
I’d also like to congratulate the participating banks for their foresight and painstaking commitment in helping us create this unique new service which will give added protection to their SME clients.
Read our findings in full at thebbrs.org/news-updates/
If you are interested in finding out more about the BBRS and how it can help you, we encourage you to sign up to one of our upcoming webinars beginning later this month. Visit thebbrs.org/webinars to register.