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Behind the scenes with the business banking product experts

Daniel Hall of All Square Treasury discusses with Bdaily the ins and outs of the business of mis-sold banking products, and how to make a successful company stand out in a crowded industry.

1. Sum up your business model in a couple of lines.

Established in 2012 and based in the centre of Leeds, we are a firm of ex-bankers and in-house lawyers that specialise in claiming compensation for mis-sold complex Business Banking products such as Loans, Tailored Business Loans, Hedging Products and other banking products sold to businesses.

2. What key challenges has your company recently faced?

Competition is intense in our market and it’s very difficult to stand out from the crowd. It’s only when businesses meet us that they really appreciate that we are different and have something unique to offer. It also takes a long time to build a brand in the market, but we are committed to doing this and believe that a long term and sustainable approach to our brand is the right way forward.

3. What is your biggest achievement over the past 12 months?

Within the first eighteen months of operating, we have grown from a start-up to being recognised as one of the leading firms in the UK specialising in claims relating to complex banking products. We are regularly quoted on Reuters and other leading business channels as specialists in this area. Our niche and focused business model has worked for our clients and we continue to field more enquiries each month as we grow.

4. What is your focus for the coming year, and what do you hope to achieve?

We are very focussed on helping our existing clients with problems relating to the mis-selling of Interest Rate Hedging Products (‘Swaps’), but also adding to this focus, the mis-selling of Tailored Business Loans, primarily by Yorkshire Bank and Clydesdale Bank. Being based in Leeds, we are well positioned to assist businesses in our homes markets Yorkshire and the North East and further afield into Scotland and the Midlands.

5. If you had to choose one top piece of advice for someone just starting out in business, or is currently operating within your industry sector, what would it be?

Estimate a “hard work” score and then multiply that by a factor of 10.

You will need plenty of tenacity to get through.

7. Can you share with us your view of the current landscape of business, in your region or generally, and where your organisation sits within it?

We are positioned as a hybrid between the Leeds/North of England’s Legal and Financial communities. By combining the skills of bankers and lawyers to focus on assisting businesses that have had banking problems with products that have been mis-sold, we believe we offer a unique proposition to the market.

8. What do you wish you’d known when starting out?

How quickly the market that you are operating in moves on and how best to react to this. We are determined to be here to stay for the long term.

9. What other business idea are you most envious of?

None. If I was envious, I’d be doing it.

10. What will be the “next big thing“ in your industry, and how do you plan to handle it?

The legal market is currently undergoing big, structural changes. This means opportunities are opening up for people that do not necessarily have a legal training and background, such as ex-bankers, like myself. Having a different background and experience together with coming from a different culture means that I view things differently and maybe see opportunities that others may miss.

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