Superbrands UK Annual Vol.21 uk.superbrands.com In 1810 the Reverend Henry Duncan did something revolutionary. He built the Trustees Savings Bank, whose sole purpose was to help hard working local people thrive . Seven years ago, TSB was re-born based on his vision, to make banking better for all UK consumers Market In 2013 the big five banks controlled more than 85% of all UK bank accounts. Following the banking crisis, TSB was created to bring more competition to UK banking and actively make banking better for all consumers. TSB exists to serve those people who feel they are underserved by the big banks – the ‘Aspiring Middle’ of Britain, who work hard to do the best for themselves and their families and to balance the budget, but feel that the big banks don’t really care about or understand people like them. The bank’s customer-facing purpose is ‘Money Confidence. For everyone. Every day’. Product TSB is doing what it can to help people confidently make a little bit more of their hard-earned money, be certain that it is safe and deal with life’s unexpected changes. That is why TSB designs its products and services the way it does. The new ‘Spend & Save’ current account is designed to help people save money as they spend it. TSB’s ‘Fix & Flex’ personal loans and mortgages allow them to take repayment holidays, should life change. In addition, its award-winning Fraud Refund Guarantee means that customers who are innocently defrauded of their money, are refunded in line with the terms of the Guarantee. Achievements Since its re-birth, TSB has successfully grown its customer base while playing a positive role in society. It celebrates people who help others in their communities. At its heart is a long-term partnership with the Pride of Britain Awards, which is the nation’s biggest annual awards ceremony of its kind. It celebrates ordinary people across the UK who’ve gone to extraordinary lengths to help others. Bank fraud is a major worry for many customers. In some cases people can find it difficult to get their money back from the banks when they’ve been innocently defrauded. In fact, they often say they were made to feel like criminals. The Fraud Refund Guarantee positions TSB as market leading for customer protection, and the bank has become the industry source of reference on fraud for the media. This has meant that 100% of innocent victims of fraud have been refunded at TSB. As an employer, TSB has smashed the image of stuffy traditional working practises and values. It was one of the first companies to proactively publish and explain its gender pay gap. It also has a strong presence at LGBT Pride events across the country and it is creating an environment where people, whoever they are, are encouraged and enabled to bring their true selves to work. Recent Developments It goes without saying that Covid-19 has had a massive impact on our lives, finances and the banking sector. As a brand that follows the core principle of ‘We are people helping people’ TSB rapidly put an action and communication programme in place. Firstly, to inform and guide its customers with relevant, timely and helpful information regarding TSB’s products and services, with special attention to customers in vulnerable health or financial situations. For example, repayment holidays for mortgages, credit cards and loans, interest free arranged overdrafts, tailored support for vulnerable customers and bounce back loans to support businesses. The TSB Fraud Refund Guarantee was The Sun newspaper’s top financial innovation in 2019 DID YOU KNOW?