Net sentiment ranking of UK Challenger Banks
The research tracked 118 470 consumer posts about Atom Bank, Metro Bank, Monzo Bank, n26, Revolute, and Tesco Bank from 1 December 2018 – 28 February 2019.
To achieve a 95% confidence level, a statistically significant sample of the total posts were distributed to BrandsEye’s proprietary Crowd of vetted and trained local language speakers. Each post was coded and verified by multiple Crowd members, who assessed the sentiment in the post (positive, negative or neutral).
BrandsEye Topics data provides a granular understanding of the specific issues driving consumer sentiment. A statistically relevant sample of sentiment-bearing conversation was distributed to the Crowd for topics analysis. These posts were coded and verified by multiple Crowd members, who assessed the topics driving the sentiment on a per month basis.
Challenger banks are customer-centric digitally focused organisations. To better understand consumer appetite for these innovations and changes related to traditional branch engagements we aim to use consumer feedback to answer the following questions:
- Do consumers view the challenger banks as replacements for older banks or complimentary additions?
- Do consumers trust the challenger banks as credible financial services?
- How do consumers feel about the shift away from physical bank branches towards mobile banking services and Metro Bank’s plans to open new branches?
- To what extent do UK consumers engage with tech-driven banking products
- Is there a specific type of consumer interested in being a client of the challenger banks?
- Which issues, in terms of digital innovation, have been obstacles to growth over the last year?
Preview our findings on Metro Bank here.