Leading insights agency Kantar has named named First Direct the UK’s top bank for CX in a new report that compares brand perception with the thoughts of customers.

Kantar’s inaugural CX+ report on retail banking surveyed 8,687 retail banking customers who were quizzed on both the banks they use and the perceptions of others they do not, but are considering.

Behind First Direct in second place was Nationwide, with Barclay’s third, and  The Co-Operative Bank fourth.

In fifth place was HSBC, with Royal Bank of Scotland sixth, Halifax and Lloyds in joint seventh place, followed by NatWest in ninth. The tenth place spot was claimed by TSB Bank.

The results were calculated by combining the mean CX performance score across five factors (clear brand purpose, empowered employees, empowered customers, lasting memories, and exceptional delivery) with the experience gap between brand promise and Customer Experience, identified by comparing the experience of current bank users with the perceptions of customers considering using that bank.

Amy Cashman, CO-CEO, Insights Division at Kantar said: “We all know the importance of delivering an exceptional Customer Experience. But to be a truly customer-centric organisation, banks must go further and consider how their brand experience aligns (or doesn’t) with the promises they’re making to their customers. Customer experience and brand strategy can no longer sit in organisational silos.

“The magic happens only when brand promise and Customer Experience come together.”

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