| Goals / remit of the organisation: |
Tusmor Ltd. have unique experience in launching banks in the UK, having been heavily involved in building the only two truly new retail banks to open in the last 100 years.
Our experience has taught us that there are innumerable obstacles to new banks starting and that this has a negative impact on the UK citizens who experience the consequences of an oligopolistic market in retail financial services.
Our goal is to work with our network of partners to remove as many obstacles to new entrants as possible.
Our work so far in this sector has identified:
50 new entrants wishing to provide a brand new approach to banking and to fix the current socially useless broken banking system.
30 technology suppliers capable of delivering a 21st century banking solutions on
the new Cut Loose Common Infrastructure Platform
A network of politicians, think tanks and supporters across the political spectrum who share our goals.
Tusmor has spent the last eight years researching the UK retail banking industry to identify practical solutions to social and economic problems. We published our first paper in December 2011 describing how the creation of the Tusmor common banking platform will reduce cost and time to market for new, local and specialist banks and financial services. We are now working with a variety of groups who are specialists in un-banked or under-banked sectors of our communities. Our aim is to provide collaborative solutions that solve social and economic issues in the banking sector of the UK.
We are working with our network partners to provide practical solutions to the the impact of social welfare reforms introduced by the UK government.
We are responding to the EU consultation on bank accounts as we believe that there will be serious consequences to the success of these reforms in the absence of suitable bank account solutions.
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