Retail Banking Institute | Chase UK tops retail banking customer satisfaction

Chase UK tops retail banking customer satisfaction

Although it is a UK report, it has become a global benchmark for retail banking. The UK's biannual Personal Banking Service Quality report has been topped by digital banks over the past five years, showing that banks can deliver great service even without branches. And the latest survey is topped by new entrant Chase UK, with 81% satisfaction. It was closely followed by Monzo in second place at 80% and Starling at 79%. The top traditional bank is Nationwide at 69%. It is the fifth year that digital banks have topped the survey, which is mandated by the UK government. Chase UK rose two places to top the list. The survey is commissioned every six months by the UK's Competition and Markets Authority. Monzo falls off the top having been top of the table for the last few years. JPMorgan had avoided expanding overseas through the branch network familiar to its US customers. "But after the success of the digital-only Chase UK -- its first foray into retail banking abroad -- the bank is set to launch retail arms in Europe, starting in Germany," the FT reports. Dig into the results here at the IPSOS site, or download the full results as a PDF here.