Mr. Brian McHugh:

It is a mixture and depends on the market. Some of those markets, such as the energy and telecoms markets, are overseen by regulators. The Deputy did not mention our website, which allows users to compare financial products. We all agree that the experience of consumers in switching financial products, including mortgages and current accounts, is not seamless whatsoever. One of our priorities in the banking sector is switching. We want to see new entries and we have seen the fintech companies but consumers must be able to switch seamlessly. One of our focuses is our website. We are always developing it and making it as good as possible. Another is the experience of consumers who switch. Going back to the legal sector, one element of that experience is conveyancing. If you want to switch your mortgage, conveyancing is a big barrier. It is difficult, lengthy and expensive. You must look at the whole picture to make the consumer journey as smooth as possible.