Latest report finds Santander has best mobile experience
Our inaugural banking report has found Santander has the best mobile experience for savings account sign ups.
We have published our inaugural Banking Report which focuses on customer experience when opening a savings account online, specifically on a mobile device.
We compared the savings account opening experience of 10 leading UK banks considering criteria such as new customer eligibility criteria, ease of finding eligibility criteria, understanding the options, account opening experience and mobile site speed.
We found that Santander has the best experience with an overall score 59.5 out of 70, with Metro Bank following closely behind with 58.7 points. TSB ranked lowest with 22.4 points.
We asked people to open a savings account using the following scenario:
“Imagine you want to open a savings account with a bank other than your own bank in order to keep the money you are saving separate to your current account. Please navigate to the bank’s website and open an instant access savings account.”
We recorded their reactions, points of struggle and questions so they could be compared.
Banking report recommendations
Our report details both the positive and negative points users made and gives recommendations for user experience improvement for each bank.
Worship.agency’s managing director Nina Mack said “”We were quite surprised at the range of approaches UK banks take to developing new customer relationships. Savings accounts can be a nice, low commitment way to get new customers who can then be offered the proposition for other products once the relationship is formed. The fact that some banks are still forcing customers to have a current account before they’ll offer them a savings product seems like a missed opportunity.”
The report includes the top 10 banks ranked by ease of getting a savings account, comparative analysis of 7 key aspects of new customer experience, examples of good and bad elements of the experience, and suggestions for improvement.