Independent reports

The Appeals Process has given SMEs an extra £100 million in additional lending over the last five years

£100 Million in lending from overturned appeals

While, in the five years since the process began, almost 16,000 appeals have been submitted and almost one third overturned, the real benefit has been the change in processes which the banks have implemented leading to better and more fruitful conversations between banks and their SME customers. These process changes have varied across the banks but key is the internal refer process that many now operate which has an application, which historically might have been immediately declined, referred for further consideration before a final decision is made.

Professor Russel Griggs OBE states:

All the banks realise now that taking that extra time can allow them to lend more and better and that has seen a real fall in appeals because of an increase in post referral acceptances. Therefore, that is why now that I am confident in stating that while from the overturned appeals themselves I see more than £60 million in new lending has been put in place over the last five years I can now estimate that the total of lending put back into the economy over the last 5 years as a result of the Appeals Process is in excess of £100 million due to the other changes it has brought about as well.

Better conversations equal better lending to SMEs in the UK, Prof Griggs continues:

The process changes that are now generating these ‘Better Conversations’ are now embedded across all the banks I review so I am now integrating those processes as being a ‘Business as Usual’ part of what banks now do as a standard service they offer to their customers. This is across all the channels that banks now use to have ‘conversations’ with their channel to ensure that whichever way the SME has of dealing with their bank is covered by processes that generate that better and more positive outcome for both parties. That positive outcome also includes where a bank may have declined an SME’s application but now is clearer and more definitive on why it was declined and critically what the SME could do to make an application successful in the future.

Inside the Latest Appeals Report

Professor Griggs expands on how he works with each of the banks that are part of the Appeals Process to integrate all that has been learned and what factors he will apply to ensure that is done sustainably. He also highlights the continued difference in the reasons for SMEs being declined for those looking to obtain credit in whatever form under £25,000 where credit scoring still plays the prominent role and those borrowing over £25,000 where affordability and the ability to deliver what is promised are key.

Prof Russel Griggs OBE, the Independent External Reviewer to the Banks’ Appeals Process, publishes the Annual Report for Year Five covering the period April 2015 to March 2016. The latest report can be accessed below.


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