Challenger bank Aldermore has today announced the launch of a new, interactive, online customer service that provides its customers with the opportunity to rate and review their products and participate in a question and answer service.

The lender is also the first bank in the UK to offer its customers and non-customers this entire service.

A ‘Ratings & Reviews’ feature will allow customers to share their opinions publicly on the bank’s products, and is currently available across the savings and invoice finance product range.

Aldermore will also launch a ‘Question & Answer’ facility, which allows customers to engage with the bank’s experts - as well as each other - to ask and answer questions. Questions are not restricted and can include issues which affect both customers and SMEs (such as a tax issues or cash flow,) as well as questions relating to products.

The free online functionality will provide Aldermore with the capability to receive direct customer feedback on its product range and their experience of dealing with the bank, while potential customers will be able to make an informed decision based on that feedback before committing themselves to a similar product.

The bank has made a commitment to total operational transparency when dealing with its customers, welcoming continuous feedback in order to deliver exceptional customer service.

The functionality also allows customers to track and follow a product before choosing what best suits their needs, and is integrated fully with social media, such as Facebook.

The new service is highly secure, as the new site sends an authentication email to confirm a user’s details before being able to proceed.

Paul Myers, Chief Operating Officer at Aldermore, said: “Ratings and reviews have been around for some time now for online shopping; however, this is the first time a bank has launched these communication channels which sees a real step-change for the banking industry.

“We constantly strive to offer a different, more integrated banking experience, which puts the customers and their feeback at its heart. We want customers to be able to make choices based on real-world information, including the views of other customers and their experiences of Aldermore’s product and services.”

Paul added: “In offering this revolutionary new service for the UK banking industry, Aldermore is continuing to demonstrate a continuous commitment to be transparent and offer the best service to our customers.”