The news that RBS is launching a digital tool to assist small business customers' understanding of its terms and conditions is to be welcomed. In any service industry the customer is of the utmost importance and this service to help them is an acknowledgment of that. As Alison Rose, chief executive of RBS’ corporate, commercial and private banking division, says:
“If you stand in your customers’ shoes, you can find out what they really want.”
Royal Bank of Scotland is launching an online tool to help business customers to understand its terms and conditions as part of a drive to regain public trust. The bank’s new service that will allow its thousands of small business customers to scroll over contracts electronically and check the meaning of legal terms, ranging from a definition for the annual percentage rate, or APR, to what is meant by a finance lease.