The 2019 CREALOGIX bank customer survey saw market research institute CENSUSWIDE ask 1500 bank customers in Germany and Switzerland in February 2019. One finding of the study was that 61.6% of those bank customers surveyed doubt that their current bank meets their digital requirements. Only 31.4% are fully satisfied with their current mobile banking – and just under 70% (68.7%) of respondents would be willing to open a new account that offers an improved mobile banking experience.
Challenger banks are on the rise
This gap is filled by so-called challenger banks, new digital providers such as N26, Revolut, Zak or Neon, that win over their digital-savvy customers with a user-friendly mobile-only approach, a fast and uncomplicated account opening process or a holistic management of all accounts and expenses in just one app. “These new providers are creating important trends that traditional institutions just cannot ignore and to which they must respond by further developing their banking apps,” says Oliver Weber, Executive Vice President of CREALOGIX Switzerland.
Nearly 40% of bank customers know at least one challenger bank
The bank customer survey conducted by CREALOGIX showed that just under 40% (38.5%) of respondents are familiar with at least one of the market-leading challenger banks – even though many of the providers have only recently entered the market. In Switzerland, 28.7% of respondents are also contemplating the idea of opening an account with a mobile-only bank within the next twelve months. Oliver Weber continues: “The long overdue wake-up call from the challenger banks to think about mobile banking from the customer’s point of view concerns all institutions and calls on them to redefine the banking of the future.”
Download the full survey report
The CREALOGIX study “Convenience first: How challenger banks whet the appetite for mobile banking” can be downloaded free-of-charge at https://info.crealogix.com/en/convenience-first-challenger-banks/survey-report
Yvonne Schäpper, C-Matrix Communications AG
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