Craig Herd Triumphs in Young Banker of the Year Award with Dementia-Friendly Banking Initiative

Craig Herd of Sainsbury’s Bank has clinched the 2023 UK Young Banker of the Year title at the competition finale at London’s Mansion House on 7 December 2023.

Initiated in 1987 by the Chartered Banker Institute, these awards acclaim individuals embodying customer-centric, ethical professionalism, as advocated by the Institute and expected by society.

In this year’s contest, UK’s Young Bankers were invited to propose an idea they could implement within their organisation, enhancing outcomes for customers, colleagues, and communities. These ideas should align with their vision for banking’s future, conforming to the Chartered Banker Institute’s ethos and the UN Principles for Responsible Banking. The winner is honoured with a trophy, £1000 in prize money, and a £1000 donation to a charity of their choice.

Craig’s innovative proposal involves a dementia-friendly feature for banking products, offering support to customers living with dementia and their families. On disclosing their diagnosis, customers can activate measures for financial assistance, maintaining their financial autonomy as long as feasible. The package includes enhanced customer service, card and account monitoring by a designated “champion,” and reinforced financial crime protection against scams and fraud. These measures aim to empower customers in managing their finances with confidence and support.

Craig Herd, upon winning, said:

“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.”

The accolade was presented by Alderman Sir Peter Estlin, who remarked:

“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, commended:

“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.”

Craig also won the Audience Prize for his presentation, embodying the high professional standards expected of bankers. Steve Pateman, President of the Chartered Banker Institute, presenting the award, said:

“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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