09/12/2008 - Personal loan providers no longer pushing PPI sales

Changes to online Payment Protection Insurance sales

November’s update of the Personal Loans Dashboard has uncovered over twenty changes, a number of which are around the sale of Payment Protection Insurance (PPI).

Barclays, Natwest, RBS, Lombard Direct and Nationwide are notable amongst those who have made changes around the sales process.

Customers who want to take PPI with a Barclays loan are now required to confirm that they have read the ‘guide to insurance’. Natwest, RBS and Lombard all had loan repayment calculators online which defaulted to include the cost of PPI, now none of them have that default. Nationwide, who have recently refreshed their site, inform customers of how much PPI would cost as part of their online loan repayment calculator but if the customer wishes to purchase the insurance they must call or go into a Nationwide branch.

Natwest and RBS have also restricted sales of their personal loans, only making them available to existing current account holders.

What is a Personal Loans Dashboard?

The personal loans dashboard(.pdf) compares a list of 200 individual personal loan services across 19 of the top personal loan providers in the UK. All information is obtained replicating the customer experience through the live accounts that we hold. The Personal Loans Dashboard is updated quarterly, highlighting competitor changes that have occurred in the market during that time – read more about out Competitor Monitoring.

09/12/2008 - More decision making tools for mortgage customers

Mortgage lenders are providing more online tools and calculators for customers

In November’s research for the Mortgage Dashboard more mortgage lenders have added pages to their websites giving advice to customers facing financial difficulty, the latest to provide this information are Cheltenham and Gloucester, and Coventry Building Society.

New tools and calculators have also been added to lender websites, helping customers to make informed decisions and to have accurate information when making a mortgage application. Nationwide have added a house price calculator which uses current and past data about property sales to give customers an immediate estimate of how much their property is worth. Northern Rock have added a maximum borrowing calculator to their website along with a mortgage selector tool.

Interestingly Nationwide, Natwest and RBS all refreshed their monthly repayment calculators last quarter, no longer making it possible for customers to choose their repayment method and having the results defaulted to capital and interest.

What is a Mortgage Dashboard?

The mortgage dashboard(.pdf) compares a list of 150 individual mortgage services across 22 of the top mortgage providers in the UK. All information is obtained replicating the customer experience through the live accounts that we hold. The Mortgage Dashboard is updated quarterly, highlighting competitor changes that have occurred in the market during that time – read more about out Competitor Monitoring.

04/12/2008 - Mapa launch the 2008 Banking Landscape

Report's 5th Edition given a new title, new sections and exciting new content!

This year sees the 5th Edition of Mapa's Banking Landscape, titled "A Changing Landscape: Online & Mobile Financial Services in 2008 - 2010". The report is not only just a look at the UK banking market, but an analysis of all retail financial services, international online banking and mobile banking. We have also added a consumer opinion component and a look at what lies ahead for online banking in the coming years. It’s an exciting report that reflects exciting times for the internet.

Download the brochure here from the list of our reports

04/12/2008 - Encouragement for savings customers

Reassurances from Santander and savings tips from Lloyds TSB

Mapa’s November update of the Savings Dashboard recorded over 40 changes. Reflecting the recent spate of market takeovers, a number of institutions have been trumpeting the greater security of their new ownership. Others by contrast have focussed on encouraging savings more generally.

Abbey, Alliance and Leicester, and Cahoot have all added prominent notices to their websites reminding customers that they are backed by Santander, one of the worlds largest banks. The message communicating to customers that they are secure banks to save with.

Lloyds TSB are helping their customers with ideas on how to save money by launching their ‘Savvy Savers’ microsite. The site gives customers money saving tips such as selling clutter, and using a bike for short journeys. The site also has a tool that helps customers plan their savings goals, telling customers how much they need to save each month in order to reach their targets. For more information see the screenshot or visit the site for yourself http://www.lloydstsbsavvysaver.com

What is a Savings Dashboard?

The Savings Dashboard (.pdf) compares a list of 100 individual savings account services across 23 of the top savings providers in the UK. All information is obtained replicating the customer experience through the live accounts that we hold. The Savings Dashboard is updated quarterly, highlighting competitor changes that have occurred in the market during that time – read more about Competitor Monitoring.