Plum’s CEO and Founder, Victor Trokoudes, stated: “While the UK’s big banks have been quick to increase interest rates on loans and mortgages, they have been far slower in boosting interest rates on savings accounts, effectively devaluing people’s hard-earned savings. The cost-of-living crisis shows little sign of abating, making it all the more disappointing that not only are many banks not sharing more of the base rate with customers, but they appear to be sharing less than their European counterparts.”