As Virgin Money finally managed to enter the UK High Street banking market we wonder if this will bring an improvement for customers?
There newest TV advert proclaims “40 years of better. Now in a bank” and I want to know if this is correct? Have virgin really revolutionised the industries they are currently in and improved in for us, the customers?
They state on there website that “Virgin has a history of entering markets to improve things for customers” but is this true? Thinking about Virgin Atlantic, Media and Trains, have they become market leaders or just competitors?
Time will tell but it will be very interesting to see how it plays out. Add the fact that, for a number of years, Virgin and Tesco’s have been in competition to crack the high street banking market it could be a very different industry in a few years time.
We will certainly be paying close attention to the effect, if any, that this increased competition has on customer experience. Let’s face it, when dealing with many high street banks, it can’t get much worse.