This government was elected on a promise to level up and unite the country. Since then, spiralling inflation and a cost of living crisis have made an already ambitious plan even more stretching. The Levelling Up White Paper recognised that to meet this challenge would require the efforts and investments of the public sector to be matched by major private sector action.
While focus is often given to the role of banks as major institutional investors in infrastructure and businesses, their consumer facing role is overlooked. Retail banking has the potential to help individuals and families across the country to save, buy a home, manage their bills, and support members of their family. And rapid innovation across the sector is leading to new products and services that could expand these benefits.
These events will consider the role that retail banking can play in improving standards of living across the country, while also supporting sustainable economic growth. It will consider the opportunities and challenges of new forms of financial product and technology, and explore what role the government should play in accelerating adoption or reforming regulation.