Page 299 - Bank Case Studies

Pester announced plans to be “as aggressive as possible” in

disrupting small business lending and providing

entrepreneurs with the finance needed to grow their firm.

To aid this he also confirmed the bank’s intention to

compete for one of the 15 grants from the RBS’ Capability

and Innovation Fund to finance its drive to shake-up the

small business lending space.

TSB’s intention is to offer something new to entrepreneurs.
If they receive one of the Challenger Fund’s bigger grants

from RBS then they will use every penny of it to help
support small businesses and to make it as uncomfortable

as possible for the big five it was claimed.

“We see ourselves as a challenger bank with teeth

and we will be as aggressive as possible when it

comes to small business lending.”

Part of TSB’s intention is to also renew its calls for the CMA

to take action to make it easier for challenger banks to take

on the established players.

“We want all bank customers to know what they’re

paying for their banking; all customers – including

overdraft users – to be able to switch easily; and

all customers to be aware of their right to switch

banks. Only then will competition really start to

work and the culture of UK banks finally shift to

serving customers on their terms – rather than on

the banks’ ” said Pester.