Banks are looking into setting up an “early warning system” to spot serious misconduct by staff.
According to The Telegraph, an independent review into behaviour at banks is exploring an industry-wide data system that could identify systemic misconduct before it causes too much damage.
Former Institute of Directors director general Simon Walker is leading the review on behalf of UK Finance. Final recommendations are expected by October.
The Telegraph says a “real-time” data system that groups complaints is just one option that is being considered as part of the review.
It is also reportedly looking into the benefits of a new dispute resolution body to settle complaints between lenders and small businesses.
Walker did not provide comment to The Telegraph.