2018 Banking Competitor Profile: Barclays

2018 Banking Competitor Profile: Barclays

Summary

Barclays is one of the largest banks in the UK, and is a leading provider of all the main banking products. Mortgages are a particular strength for the bank - it has won a number of awards for its product range and has an NPS score three times higher than the market average. Barclays customers are heavy users of mobile banking - a quarter use this channel on a daily basis, significantly more than the national average.

This competitor profile benchmarks Barclays’ performance across current accounts, savings accounts, mortgages, and personal loans against the market.

It offers insight into -

• How Barclays’ customers choose and apply for their key financial products, and how their behavior differs from customers of other banks.


• The extent to which Barclays’ customers will recommend their bank, how satisfied they are with service, and how loyal they are relative to other consumers.


• How Barclays is faring in terms of market share across the main product areas.

Scope

• Barclays saw a high outflow of current account customers in Q3 2017 relative to other providers, although its Net Promoter Score (NPS) has improved to match the market average. Online onboarding rates continue to lag behind the rest of the market.


• Mortgage balances outstanding at Barclays have risen throughout the entire analysis period, although the rate of growth has slowed down. Applicants conduct more extensive research than average, and the bank outperforms on NPS. Barclays won several awards for its mortgage products in 2016.


• Barclays has consistently held just under 5% of the loans market in terms of outstanding balances. Online and in-branch application are equally popular among Barclays’ borrowers, and debt consolidation and car purchase account for more than half of all loans taken out.

Reasons to buy

• Gain insight into how Barclays acquires new customers in comparison to other providers.


• Build your understanding of how favorably Barclays’ customers view their bank and how likely they are to switch.


• Understand how well Barclays is performing financially compared to the market.