CivilisedInvestments has today become the first financial services organisation to adopt the Bankers’ Oath (copied below). If the name doesn't ring a bell, it soon will...CivilisedInvestments are currently in the process of launching a new bank (CivilisedBank) which is slated to launch later this year.
The Bankers’ Oath has been created by think tank ResPublica to instil industry best practice, and all CivilisedBank employees will be required to agree to the principles outlined in the oath. The hope is that this will instil a different kind of banking culture that helps employees to always act responsibly and have the best interests of the customer in mind.
According to Chris Jolly, Chairman of CivilisedInvestments, “Banks should be fair, transparent and responsible, and after years of turmoil we believe that the UK deserves a more civilised approach to banking. For us, this oath encapsulates how we want to do business and we would not employ anyone that is not willing or able to abide by it.”
The Bankers Oath
“I swear to fulfil, to the best of my ability and judgement, this covenant:
I will do my utmost to behave in a manner that prioritises the needs of customers. It is my first duty to provide an exemplary quality of service to my customers and to exhibit a duty of care above and beyond what is required by law.
I will apply myself to ensuring that the work that I perform is in line with values that engender the responsible creation of value. It is my duty to conduct my business in an ethical manner and to ensure that my actions impact positively on the wellbeing of people both inside and outside my enterprise.
I will confront profligacy and impropriety wherever I encounter it, for the conduct of bankers can have dramatic consequence for society.
I will remember that I remain a member of society, with special obligations to the financial security and wellbeing of my customers, their families and the communities they reside in.
If I do not violate this oath, may I benefit from the prosperity that comes from serving customers well. May I always act so as to preserve the finest traditions of my calling and may I long experience the joy that comes from supporting the needs of society.
This oath I make freely, and upon my honour.”