There is "more to be done" by banks in the UK to ensure their customers remain informed, according to the British Bankers' Association (BBA).
Angela Knight, chief executive of the BBA, told BBC Radio 4's Money Box programme that financial institutions need to make people more aware of banking issues.
With the industry becoming more "complicated", Ms Knight said that the BBA believed the industry should provide more information about its practices.
"We feel that the banking industry has clearly got to explain the business better and give greater security," she told the programme.
In related news, the BBA recently welcomed a report by JD Power and Associates which revealed that the majority of UK banking customers are satisfied with the services they receive.
Commenting on the findings, Ms Knight said that the industry continues to provide services that consumers want.
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