Culture means many things to many people. It was necessary to focus the initial activities of the IBCB on particular aspects of cultural change which would resonate with the IBCB’s key stakeholders. For this reason, we decided to ask for, listen to and act on the views of those two cohorts of stakeholders most impacted by bank culture – bank staff and bank customers.
We conducted two pieces of research in this regard. Firstly, we commissioned the UK Banking Standards Board (BSB) to conduct a survey in October 2018 of the 25,000 bank staff across our founding member banks to gauge their views on the internal culture of their institutions. Secondly, we conducted a Public and Stakeholder Consultation exercise.
The findings of these two pieces of research were published in two separate reports in April 2019. These findings have set the baseline of what the perceptions are of banking culture in Ireland and what needs to change. These findings have also been used to inform the IBCB’s year one (2019-2020) Work Programme.
This Work Programme is comprised of two pillars of focus – one focussing on internal aspects of bank culture – including issues such as Ethics & Behaviour, Speaking Up and Psychological Safety, and the second pillar focussing on external and more customer impacting issues such as Communications, Supports for specific Customer groups such as Vulnerable Customers, Financial Education and Awareness etc.