It’s All About Trust

Chris Skinner recently wrote in his blog, www.thefinanser.com, about the future role of bank branches. His story was based on two Brandseye surveys of consumer sentiment in the UK about banks, one pre-COVID and the other, more recently, ‘during’ COVID.

The traditional banks are shown in orange and the new ‘challenger’ banks that do not have bank branches, in blue.

Pre-COVID four of the five challenger banks had a positive score. The chart shows a rather different view with a number of the traditional banks recovering ground. This is hard to understand when you consider that branches have been closed or had reduced opening hours. The traditional roles of bank branches – transactions, service, advice and as business centres – have ceased, reduced or fundamentally changed.