Which wants banks to streamline PPI claim processes, following the release of FSA figures which show only a quarter of the amount set aside for claims was paid out in 2011.

Which? executive director, Richard Lloyd, said: “It’s good to see the PPI payout is finally starting to speed up but last year’s compensation of £1.9 billion is less than a quarter of what lenders expected to refund. Too many people are still finding the claims process too lengthy