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Financial Services in the UK

Sector average score

White star

63

Knowledge & Expertise

62

Style of Communication

67

Speed of Resolving Problems

61

Valuing the Customer

64

Nationwide makes it five straight quarters at the top of the Financial Services in the UK table and – with an Overall Effort Score of 71 – it’s the highest in financial services across all three territories the Customer Effort Index measures.

It’s been an enormously positives three months for UK financial brands in the CEI, with all 16 names increasing their Overall Effort Score vs last wave, indicating that as a sector, there have been improvements vs other industries and territories.

Nationwide has broadened the gap between second place First Direct. Meanwhile, it’s been a positive show for Scotland – Bank of Scotland has risen two places from joint sixth last time to joint fourth, while the Royal Bank of Scotland moves up a spot to 14th.

Rankings

The Rankings

Performance Tracker

Performance Tracker

Rank

1

Knowledge & Expertise

71

Style of communication

76

Speed of resolving problems

67

Valuing the customer

71

2

Knowledge & Expertise

70

Style of communication

72

Speed of resolving problems

65

Valuing the customer

71

3

Knowledge & Expertise

65

Style of communication

70

Speed of resolving problems

65

Valuing the customer

69

4

Knowledge & Expertise

63

Style of communication

67

Speed of resolving problems

66

Valuing the customer

70

4

Knowledge & Expertise

65

Style of communication

70

Speed of resolving problems

65

Valuing the customer

67

6

Knowledge & Expertise

65

Style of communication

72

Speed of resolving problems

63

Valuing the customer

65

6

Knowledge & Expertise

64

Style of communication

68

Speed of resolving problems

62

Valuing the customer

66

8

Knowledge & Expertise

62

Style of communication

67

Speed of resolving problems

62

Valuing the customer

66

8

Knowledge & Expertise

63

Style of communication

64

Speed of resolving problems

63

Valuing the customer

65

10

Knowledge & Expertise

62

Style of communication

66

Speed of resolving problems

59

Valuing the customer

65

10

Knowledge & Expertise

61

Style of communication

68

Speed of resolving problems

60

Valuing the customer

63

12

Knowledge & Expertise

59

Style of communication

64

Speed of resolving problems

61

Valuing the customer

62

12

Knowledge & Expertise

58

Style of communication

62

Speed of resolving problems

59

Valuing the customer

60

14

Knowledge & Expertise

56

Style of communication

62

Speed of resolving problems

55

Valuing the customer

60

15

Knowledge & Expertise

58

Style of communication

65

Speed of resolving problems

53

Valuing the customer

57

16

Knowledge & Expertise

54

Style of communication

63

Speed of resolving problems

49

Valuing the customer

53

Effort

i

X

Effort

The Overall Effort Score is calculated using modelling on the results recorded in each of the four pillars

71

68

67

66

66

65

65

64

64

62

62

60

60

58

57

54

Hide arrow

Hide

Knowledge & Expertise

i

X

Knowledge & Expertise

Having knowledgable customer service agents that can clearly explain details to customers impacts the score in the ‘Knowledge & Expertise’ pillar

71

70

65

63

65

65

64

62

63

62

61

59

58

56

58

54

Style of Commun-
ication

i

X

Style of Communication

How polite customer service staff are and whether they can communicate in a customers’ chosen language contribute to ‘Style of Communication’ 

76

72

70

67

70

72

68

67

64

66

68

64

62

62

65

63

Speed of Resolving Problems

i

X

Speed of Resolving Problems

A quick resolution and short holding times ensure a strong ‘Speed Solving the Problem’ score

67

65

65

66

65

63

62

62

63

59

60

61

59

55

53

49

Valuing the Customer

i

X

Valuing the Customer

Companies that make their customers feel valued and understand their needs perform well in the ‘Understanding & Valuing the Customer’ pillar

71

71

69

70

67

65

66

66

65

65

63

62

60

60

57

53

NPS

i

X

NPS

NPS scores can be used to compare and contrast with Effort for an additional perspective

-1

-38

-14

-48

-38

-18

-10

-20

-33

-18

-26

-44

-32

-48

-35

-50

+

+

+

+

+

+

+

+

+

+

+

+

+

+

+

+

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Last updated: Jan 2025

Next update: Apr 2025

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Executive summary

  • What’s Nationwide’s and First Direct’s secret in the ‘Knowledge & Expertise’ pillar? These two brands are +5 above the next nearest competitor. The next nine brands in the table are then within four points of each other. What are these two frontrunners doing to be so successful?
  • We say

    ‘Knowledge and Expertise’ is hinged on how well agents communicate they understand the customer's problem and explain the details to them clearly. Nationwide and First Direct score above and beyond in these metrics, demonstrating that other brands should focus on these markers to keep competitive.

How to use the Customer Effort Index

Customer Effort Scores for the quarter are presented in the rankings, ordered by highest Overall Effort Score first, to show which brand scored highest with its customers for that period. Individual brand ratings against the four pillars take us underneath that Overall Effort Score, with brand-specific explanatory analysis from the CEI Editorial team.

You can use the display above to toggle between score, ranking and individual pillars. Clicking 'Performance Tracker'  enables you to analyse the performance over time.

The Customer Effort Index is calculated using a self-referential scale that is recomputed every wave based on what the minimum and maximum values are. This enables us to see how each brand is performing compared to the others within the data set. See About for more on the methodology. 

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