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Craig Herd Secures Prestigious Young Banker of the Year Award for Dementia-Supportive Banking Concept

Craig Herd, representing Sainsbury’s Bank, has been awarded the prestigious title of 2023 UK Young Banker of the Year at the contest’s climax held at Mansion House in London on 7 December 2023.

Since its inception in 1987 by the Chartered Banker Institute, the awards have been spotlighting individuals who demonstrate a commitment to customer-focused, ethically driven professionalism, a standard set by the Institute and anticipated by society.

This year’s competition challenged Young Bankers across the UK to present innovative ideas for their organisations that would positively impact customers, colleagues, and communities. Their proposals were to embody their vision for the future of banking, aligned with the principles of the Chartered Banker Institute and the UN Principles for Responsible Banking. The champion of the contest is awarded a trophy, a £1000 cash prize, and an additional £1000 to donate to a charity of their choice.

Craig Herd proposed a pioneering idea for a dementia-supportive feature in banking services, providing a comprehensive support package for customers affected by dementia and their families. This feature, activated upon the customer’s disclosure of their diagnosis, includes enhanced customer service support, monitoring tools for a designated “champion,” and advanced screenings to guard against financial crimes like fraud and scams. This initiative is designed to assist customers in retaining control over their finances during challenging times.

After receiving the award, Craig Herd stated:

“I’m delighted to have had this opportunity to champion the needs of customers living with dementia. The number of people diagnosed with dementia is increasing every year in the UK, and research shows that customers living with dementia and their families need more targeted support from the banking industry. Being able to raise my idea of Dementia Safe on such an esteemed platform will start conversations in the industry on how we better support customers living with dementia. The proposals from my fellow finalists show the very best of our industry, and giving young bankers the opportunity to develop and present these ideas will continue to have a positive impact on not only banking but wider society.”

Alderman Sir Peter Estlin, announcing this year’s winner, commented:

“The Young Banker of the Year competition is an excellent opportunity to not only celebrate some of the future leaders of our City, but to showcase the abundance of talent that exists across the sector too. By grappling with, and finding solutions to, some of the key issues being discussed in the City – like how to deliver sustainable growth – these young professionals are pushing boundaries, challenging accepted wisdom, and devising strategies today that will benefit us all tomorrow. My congratulations to Craig and the other finalists. They are a credit to themselves, their businesses, and the City as a whole.”

Simon Thompson, Chief Executive of the Chartered Banker Institute, added his congratulations:

“All four finalists personified the ethical and professional ethos of the Chartered Banker Institute and the values underpinning the UN Principles for Responsible Banking. Congratulations to Craig, our Young Banker of the Year, and to all our finalists for presenting their ideas for aligning banking with the objectives of the Paris Agreement and the UN Sustainable Development Goals. The future of our banking sector and profession is bright if tonight’s Young Bankers are anything to go by.”

In addition to the main title, Craig Herd was also honoured with the Audience Prize, as chosen by the attendees for exemplifying the highest professional standards in banking. Steve Pateman, President of the Chartered Banker Institute, said upon presenting the award:

“I would like to congratulate Craig, for winning the Audience Prize and on becoming, the 2023 Chartered Banker Young Banker of the Year. I pay tribute to all four finalists tonight, for their inspirational ideas. There has been much to be proud of and it leaves me with enormous confidence in the future of our banking profession.”

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