Further more, banks that were bailed out signed a deal to actively help those smaller banks by transitioning clients to them. I know that because my bank offered me a few times to the point of nagging to switch my business accounts from them to one of the smaller ones. They offered to pay me a sum of a few thousand pounds to do that. I declined at the time due to me liking my bank and appreciating one app for all my business and personal accounts. When I pushed why are they willing to pay me large sums to leave them, the told me the above.

I learnt about this situation, as it happens, from the founder of Griffin, so was particularly interested in this blog post. It seems like the initial excitement of developing a banking system in Clojure might have transitioned to more bread-and-butter aspects of banking now, but immutable data is an ideal match for their mandatory audit trails.

I have to admit that I wouldn't mind being paid a large sum to switch to Griffin, but then again, my current provider is one of the more responsible ones which didn't have to be bailed out in the crisis :)

There are benefits to being with irresponsible banks :-)