Fairness is the new buzz-word, from Fairtrade to fair cuts. The institution you trust with your money could be amongst the twenty-something participants in the latest FairBanking research initiative. FairBanking is an independent research-based charity dedicated to encouraging and helping retail banks improve the financial well-being of their customers. FairBanking asked Z/Yen to spread the word and chivvy all major UK retail banks and building societies to contribute details on how their credit card, current account and savings products help customers manage their money.

Unlike the wicked step-mother in Snow White, Z/Yen does not possess a magic mirror. It does, however, possess the magical touch delivered by Leonor Fishman, lead consultant on this project, who was able to round-up 50% of the institutions approached to participate. Leonor, along with Ben Morris and Michael Mainelli at Z/Yen, beavered away since October 2010 to design and promote the research along with analysing the findings of these products. FairBanking's work featured twice in the Financial Times in 2010, so it is likely the first report featuring bank participation will receive some publicity in spring 2011.

Addenda: In parallel with the survey, the FairBanking Foundation launched the FairBanking Mark. The first of these were granted at a ceremony on 14 June 2011. The report online: Antony Elliott, "Fairbanking Ratings: Is UK retail banking showing signs of reform?", The Fairbanking Foundation (April 2011).

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