Liberal Democrats in Business

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Still More To Be Done By Banks To Provide Consumers With 21st Century Banking In UK

12.00.00am BST (GMT +0100) Tue 24th May 2005

Responding to the announcement by APACS today that UK banks are to develop new infrastructure to speed up Internet, phone and standing order payments, Liberal Democrat Shadow Chancellor, Vince Cable MP, said:

"This long overdue news is very welcome as, increasingly, consumers are choosing to conduct their financial affairs using the Internet and phone banking. Banks must now seek to develop and implement the new infrastructure as soon as possible.

"Banks have an obligation to look at speeding up cheque clearing times so consumers are offered a truly 21st century banking experience in the UK."

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