Essentially, a new method of retail banking.
The banks have vast amounts of information about their customers. Who they pay, how much they pay them etc. So, use that information to run comparison engines. Split the savings between he bank and the customer.
I would assume that the problem is somewhere in the Data Protection Act.
As to whether it would work: well, imagine that you were in fact running a comparison engine. Say, Go Compare. Then someone said you can mine the retail customer information at Lloyds to t3ell people how and where they could save. You\’d do it like a shot, wouldn\’t you? Zero customer acquisition cost and millions upon million of new customers.
There is therefore a business in there.
So, what is it I\’ve missed?
Maybe the banks simply aren\’t competent to do this?