Is UK banking set to follow energy with improvements in supplier comparisons and transparency?

With as few as 4% of SMEs switching their banking provider in a year despite them being able to save an average of £80, the Competition and Markets Authority (CMA) announced today it is set to implement a number of measures to encourage both consumers and small businesses to take advantage of switching banks and accessing alternative products and services.

Citing that SME's lacked the tools to enable them to easily compare what banks charge, their service quality and credit availability, do these measures suggest a move for UK financial institutions to adopt a comparison model akin to the energy market?