Our 2018 Retail Banking Vulnerability Study builds on our 2011, 2013 and 2015 studies.
In each of the years we’ve conducted this study, we have predicted historic levels of customer defection and diagnosed the unique reasons that each of the major players would be experiencing increased attrition, in a category characterized by a high degree of inertia. Our findings have proven to be prophetic, unfortunately, as we had also hoped that the information could provide a platform for the major players to create real and lasting improvement in their customers’ experiences.
As you will see, the 2018 results show signs of increased risk for most of the top 10 retail banks, with greater levels of customer frustration and higher number of deposits, revenues, and customers at risk.
The question remains – who will move beyond empty advertising messages and truly put the customer
at the center of the banking experience? Will it be one of the top 10 banks or a new category entrant,
If existing customer frustrations are not addressed, the Top 10 retail banks are projected to lose in the next 12 months: