Ranked: Top 10 retail banks for customer experience
First Direct has won the crown for delivering the best retail banking customer experience, according to a comprehensive new study released this morning.
The telephone and internet-based retail bank has seen off competition from the likes of Barclays, the Co-operative Bank and Royal Bank of Scotland (RBS) to claim the top spot.
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Nationwide clinched second place, being given 119 customer experience points compared to 134 at First Direct.
Barclays came in third with 100 points.
| Retail Bank | Performance index |
| 1. First Direct | 134 |
| 2. Nationwide | 119 |
| 3. Barclays | 100 |
| 4. The Co-Operative Bank | 97 |
| 5. HSBC | 97 |
| 6. Royal Bank of Scotland | 96 |
| =7. Halifax | 94 |
| =7. Lloyds | 94 |
| 9. Natwest | 92 |
| 10. TSB Bank | 90 |
The data was released by data giant Kantar, which has released its first ever retail banking index based on survey responses from 8,700 customers.
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“Challenger banks and out-of-category brands, such as Amazon, re-defining what great experience looks like, established banks ignore the signs at their peril,” said Amy Cashman, co-chief executive of Kantar’s insights divisions.
She added: “Many traditional banks say that they want people to be better off but our customer experience leaders and disruptive fintechs are winning the battle for attention because they are taking purposeful action to ensure they consistently do things that aim to improve customers’ lives and allow them to feel more in control of their finances.”