Banking Competitor Profile: Santander
July 2018
52
About the Report
About the Report
Banking Competitor Profile: Santander
Summary
Santander is a leading UK provider, and has achieved notable success in recent years with its 123 Current Account, which has attracted substantial numbers of new customers. It also recently acquired a specialist provider of motor finance, which has boosted its market share in lending. Although Santander's costs relative to income are in line with those of other banks, price competition has hit its net interest margins, and consequently its return on assets.
This report benchmarks Santander's performance across current accounts, savings accounts, mortgages, and personal loans against the market.
The report offers insight into-
- How Santander's customers choose and apply for their key financial products, and how their behavior differs from customers of other banks .
- The extent to which Santander's customers will recommend their bank, how satisfied they are with service, and how loyal they are relative to other consumers.
- How Santander is faring in terms of market share across the main product areas.
Scope
- Santander has seen a substantial increase in retail deposits, fueled by high interest rates on its 123 account. Savers chose the bank due to its interest rates and having an existing relationship. Online onboarding is now as popular as in-branch application, but still lags behind the rest of the market.
- Santander's share with respect to mortgage balances outstanding has gradually fallen over the analysis period, and balances are lower in absolute terms than at the start of the period. Santander is the only mortgage provider to have a negative NPS, but it is introducing video and chatbot servicing.
- Around one in four customers use online banking every day, more than the market average. However, mobile use is slightly below average. User satisfaction is high across all channels, and Santander has introduced NeoCRM, an advanced omnichannel customer management system.
Reasons to buy
- Gain insight into how Santander acquires new customers in comparison to other providers.
- Build your understanding of how favorably Santander's customers view their bank and how likely they are to switch.
- Understand how well Santander is performing financially compared to the market.
Products
Products
Savings, mortgages, loans, current accounts, online, mobile, branch, channel, consumer
Table of Contents
Table of Contents
Table of Contents
Executive Summary
Overview
Current Accounts
Savings Accounts
Mortgages
Personal Loans
Channel Use
Financial Performance
Appendix
Why Buy From US?
What makes us stand out is that our consultants follows Robust, Refine and Result (RRR) methodology. i.e. Robust for clear definitions, approaches and sanity checking, Refine for differentiating respondents facts and opinions and Result for presenting data with story
We have set a benchmark in the industry by offering our clients with syndicated and customized market research reports featuring coverage of entire market as well as meticulous research and analyst insights.
While we don't replace traditional research, we flip the method upside down. Our dual approach of Top Bottom & Bottom Top ensures quality deliverable by not just verifying company fundamentals but also looking at the sector and macroeconomic factors.
With one step in the future, our research team constantly tries to show you the bigger picture. We help with some of the tough questions you may encounter along the way: How is the industry positioned? Best marketing channel? KPI's of competitors? By aligning every element, we help maximize success.
Our report gives you instant access to the answers and sources that other companies might choose to hide. We elaborate each steps of research methodology we have used and showcase you the sample size to earn your trust.
If you need any support, we are here! We pride ourselves on universe strength, data quality, and quick, friendly, and professional service.