The aim of BBI is to provide SMEs with a clear and credible way to judge how their bank compares to its competitors and provides a range of interactive tools and service ratings for analysis.

Simon Kirby, economic secretary to the Treasury, said: ‘The new interactive BBI website will allow businesses to identify the banks that are best able to provide the support and services they need to grow.

‘Not only is it a great tool for Britain’s SMEs, it will allow Britain’s banks to see what their customers really think of their performance and allow them to target areas for improvement.’

The website is the result of the BBI programme, which was launched in November 2013, as a tool for improving competition in business banking by providing impartial information to business owners about the service and quality of various business banking providers. Since then, an ongoing survey has rated how SMEs view their bank and its services.

Mike Cherry, national chairman at the Federation of Small Businesses, said: ‘The BBI is an invaluable resource for small businesses and provides them with ratings on financial products and services as judged by their peers. It’s independent, free to use and regularly surveys over 20,000 SMEs across a broad range of sectors.’

The Business Banking Insight website is here.