EP782: Why Brits switch bank accounts and what switching means for the business of banking

Kurt Vogt Gwerder, Strategy Consultant, Curinos

Global data intelligence business Curinos recently carried out its 2024 Great Britain Shopper Survey, which canvassed the views of 2252 people across England, Scotland and Wales who have switched primary banks in the past 3 years. The UK’s big 7 banking providers remain the go-to for ‘new to banking’ customers, and, overall, 59% of primary current account recent purchasers are being captured by the big 7. Notably, a large majority of shoppers prefer to open their primary current account digitally (83%), with smartphones (52%) being the most preferred channel. Robin Amlôt of IBS Intelligence speaks to Kurt Vogt Gwerder, Strategy Consultant at Curinos about the survey’s findings.