Challenger banks top OBIE’s Open Data Service Quality Indicators
Challenger banks have come top of almost all of the Open Banking Implementation Entity’s (OBIE) Open Data Service Quality Indicators.
OBIE publishes the data as part of a regulatory requirement. Independent surveys by polling consultancies Ipsos Mori and BVA BDRC asked approximately 1,000 customers of the 16 largest personal current account providers in Great Britain if they would recommend their provider to friends and family.
Monzo and Starling came equal first for overall service quality, both with 81 per cent, when customers were asked how likely they would be to recommend their personal current account provider to friend and family.
First Direct came in third with 78 per cent, followed by Metro Bank (69 per cent) and Nationwide (68 per cent), in fourth and fifth places respectively. The Royal Bank of Scotland received the lowest ranking, in sixteenth place with 46 per cent.
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It was a similar story for business banking, where Monzo and Starling came joint first (both 82 per cent) for overall service quality, when customers were asked if they would recommend their business current account provider to other small and medium-sized businesses (SMEs).
Handelsbanken came in third with 73 per cent, followed by Tide (68 per cent) and Metro Bank (62 per cent) in fourth and fifth respectively. The Co-operative Bank trailed in fifteenth place, with just 42 per cent.
The challenger banks also did well when asked about online and mobile banking services. Again, Starling and Monzo ranked equal first (84 per cent) when asked if they would recommend their bank’s online and mobile services.
Bank of Scotland came joint third in this category with 78 per cent, alongside Halifax Barclays, Lloyds and First Direct. The Co-operative Bank was again bottom of this list with 61 per cent, leaving it in sixteenth place.
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Starling topped the equivalent category for business banking, with 86 per cent, with Monzo just behind in second place with 85 per cent.
Tide came in third (74 per cent), followed by Lloyds (69 per cent) in fourth and Barclays joint fifth with Natwest (67 per cent). The Co-op again, took last place, with just 35 per cent saying they would recommend its online and mobile banking services.
The challenger banks and First Direct were of course left out of the running when it came to recommendations for in-branch banking services, where Metro Bank took the top spot.
For the full breakdown of OBIE’s Open Data Service Quality Indicators, including Northern Ireland, for both personal and business banking see the independent reports from Ipsos Mori and BVA BDRC.
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