We are hosting the LSB’s Business Emerging Risk Forum online on Tuesday 6 September between 10:00 and 11:00. We will hear a wide range of views from firms within business banking, from those with relationship management responsibility to those in credit, risk, or compliance.
The Forum is an opportunity to meet and learn from colleagues across the industry in a Chatham House rules environment. Below is a summary of the agenda for the day. If you are interested in attending the Forum or other future events, please keep an eye on the Events page or email Insight@lstdb.org.uk
Cost of living crisis
How are customers faring with the cost of living crisis and what are firms doing in response to it? Are firms seeing an increase in financial difficulties, and is there expected to be a need to increase resource in specific areas, for example, in Business Support Units?
Customers in vulnerable circumstances
What are firms’ understanding of the difference between vulnerability in the personal and business space? Do they feel their first line staff are comfortable handling vulnerability with a business customer? Do firms have monitoring in place in relation to vulnerability (e.g. markers on accounts or similar)?
Scams and business banking
How aware do firms think business customers are of scams and the risk of fraud? Are business banking staff such as relationship managers trained to educate customers on scams and fraud? Are there any examples of the most common types of fraud and scam that firms see with their business banking customers?
We received a request for the group to discuss compliance requirements relating to the regulations around the disclosure of broker commission in asset finance, with background to be provided by a Forum contributor.
Do firms monitor or have any way of assessing the number of SMEs and entrepreneurs with disabilities or other access needs? Is training delivered to staff on how to support business banking customers with disabilities or other access needs?