Fixing Broken Banking

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Episodes

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01PPI - The Inside Story2012080420120808

Michael Robinson investigates the origins of PPI mis-selling.

01PPI - The Inside Story20120804

Michael Robinson investigates the origins of PPI mis-selling.

01PPI - The Inside Story20120804

Big British banks are now widely accused of damaging the economy by failing to support their customers.

In this 4-part series, Michael Robinson examines what went wrong and how it might be put right.

The series opens by showing how the once close relationship between bank managers and customers has broken down. It charts how the introduction of computer systems from the 1980s replaced local decision-making with centralised lending controls. At the same time, pressure on front-line branch staff to sell highly profitable financial products such as Payment Protection Insurance increased massively. With testimony from industry insiders, this programme shows how PPI became one of the big banks' major sources of income. It reveals why early attempts to blow the whistle on industry malpractice failed and how the scandal of PPI mis-selling ended up increasing distrust in what had started out as a good financial product. As a result, many who would benefit from such insurance now shun it, putting themselves at greater risk. The programme shows how PPI became a touchstone for what has happened to British banking and the widespread cynicism with which it's now regarded.

02Local Banking2012081120120815

Michael Robinson wonders if a return to the banking of yesteryear is a possible solution.

02Local Banking20120811

Michael Robinson wonders if a return to the banking of yesteryear is a possible solution.

02Local Banking20120811

Big British banks are now widely accused of damaging the economy by failing to support their customers.

In the second programme of this four-part series, Michael Robinson examines one potential solution: banks which aim to return to traditional banking values.

One of these is Handelsbanken - the second largest bank in Sweden. Britain is now its fastest-expanding market. Handelsbanken has no sales targets for loans, no computerised credit checking systems for customers, no bonuses for managers, no advertising. This bank aims do business directly between local managers and local customers.

Staff and customer satisfaction at such banks are at the top of the charts, but how far can such human-centred banking fill the gap left by the dominant British giants?

03Peer to Peer Lending2012081820120822

Michael reports on initiatives to do without banks, including peer-to-peer lending.

03Peer to Peer Lending2012081820120819

Michael reports on initiatives to do without banks, including peer-to-peer lending.

03Peer to Peer Lending20120818

Michael reports on initiatives to do without banks, including peer-to-peer lending.

03Peer to Peer Lending20120818

Big British banks are now widely accused of damaging the economy by failing to support their customers.

In the third programme of this four-part series,Michael Robinson reports on initiatives to do without banks altogether. With so-called peer to peer lending, borrowers and investors are matched directly through sophisticated websites promising better returns to investors and cheaper loans to borrowers.

The programme shows how the systems work, examines the possible pitfalls and asks whether such direct contacts, without the intervention of banks might form a significant part of the future financial landscape.

At least one senior Bank of England official thinks it might.

04 LASTWhat Next For The Big Banks?2012082520120829
04 LASTWhat Next For The Big Banks?2012082520120826

Michael Robinson assesses what the future holds in the wake of the rate-fixing scandal.

Big British banks are now widely accused of damaging the economy by failing to support their customers.

In the final programme in this series, Michael Robinson asks what went wrong with Britain's banks and assesses what the future holds for the industry in the wake of the rate-fixing scandal.

ProducerPhillip Kemp

Presenter Michael Robinson.