Barclays is one of the UK's largest retail banks, and is the leading provider of both savings accounts and personal loans in terms of balances outstanding. Its customers are more dependent on branches, both when applying for products and for ongoing interaction.
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They are also less satisfied and less likely to recommend their bank than other consumers. In terms of financial performance, Barclays used to underperform on net interest margins, but is now on a par with its peers.
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This report benchmarks Barclays performance across current accounts, savings accounts, mortgages, and personal loans against the market. The report offers insight into -
- How Barclays customers choose and apply for their key financial products, and how their behavior differs from customers of other banks.
- The extent to which Barclays customers will recommend their bank, how satisfied they are with service, and how loyal they are relative to other consumers.
- How Barclays is faring in terms of market share across the main product areas.
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- Barclays experienced a greater outflow of current account customers in Q1 2017 than any other bank, although claimed likelihood to switch in the next 12 months is no higher than average. Net Promoter Score (NPS) is significantly below the market average.
- Barclays saw a fall in the value of retail deposits, and hence market share, in 2016. Compared to other savers, Barclays customers are more likely to have applied for their savings account in-branch than online.
Branches are also a particularly important research channel.
- Mortgage balances outstanding fell in 2016 as Barclays scaled back riskier lending. Barclays borrowers are more likely than average to use every given information source when researching.
In contrast to current and savings accounts, Barclays mortgage NPS performance matches the market average.
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Reasons to access
- Gain insight into how Barclays acquires new customers in comparison to other providers.
- Build your understanding of how favorably Barclays customers view their bank and how likely they are to switch.
- Understand how well Barclays is performing financially compared to the rest of the market.
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