Survey Report: Insights from 2,000 UK consumers demonstrate which banks they prefer, what they think of challenger banks and how they want to engage with their banks.
With the retail banking industry undergoing a revolution due to the growth of mobile banking, digital transformation and challenger banks, many traditional banks are taking steps to ensure their brand remains relevant to modern consumers.
To support retail banks with their strategic decision-making, Qudini surveyed 2,000 UK consumers to understand their opinions on traditional banks vs challenger banks and the importance they place on branches and other customer service channels.
- How consumers feel about the Big Four retail banks
- The banks with the strongest brand awareness, marketing, in-branch experience, online banking and customer service
- Find out if the Big Four should be worried about the neobanks.
Some of our findings:
- The most well-known bank is Barclays, with 79% saying they’ve heard of them before
- The majority (64%) of respondents said Halifax has a “good customer experience”
- 8% of respondents have an account with a neobank
- Only 29% of Gen Zers and 36% of Millennials have heard of Monzo
- One in five Millennials are considering using Monzo/Revolut as their primary bank.
Who we are:
At a time where it is essential for retail banks to remain profitable and relevant, leading brands are better meeting customer service needs in the times and places that are convenient to them.
Qudini offer Retail Choreography software solutions to help retail banks drive footfall, increase sales and encourage ongoing loyalty through branches, telephony services, video banking and beyond, through:
- Appointment Scheduling
- Walk-in/Queue Management
- Task Management
- Event Booking
- Branch Floor Management
Read about our solutions, use cases and ROI here: www.qudini.com/industries/retail-banking
Attend our webinar:
Join Qudini’s CEO and Co-founder, Imogen Wethered, on her “What US consumers demand from their retail banks” webinar to discover fresh consumer insights into the UK retail banking sector.
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