EY global consumer banking survey - Western European highlights

Winning through customer experience
EY Global Consumer Banking Survey 2014
Western Europe Highlights (supplement to Global Results)

EY’s third global study of retail banking customers since 2011
► More than 32,000 banking customers in 43 countries
► Our extensive global consumer banking survey of 32,000 customers in 43
markets shows that, after a number of years of sharp decline, confidence in
the global banking industry is on the rise, trust in individual banks is high
and most customers across the globe are satisfied enough to recommend
their main banking provider. But the survey also reveals quite marked
regional differences in terms of confidence and trust, approaches to advice
and use of digital channels
► Key questions explored:
► What is the role of trust in creating customer advocates, and how valuable
is it?
► Are banks investing in the right components of the customer experience?
► How well are banks performing on key interactions — from the basics of
day-to-day transactions, to resolving problems and helping customers
achieve their financial goals?
► How similar are customer behaviors across the globe?
► How well are banks prepared to fend off potential new market entrants?

The current environment
Confidence in the industry
% change in confidence in banking industry in past 12
months
• Customers in Western Europe have expressed a net
decrease in confidence in the banking industry in the
past year.
• This decrease in confidence appears in almost every
country in Western Europe, with Ireland and Spain
showing the largest declines; Luxembourg is the single
exception.
Global
Western Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
United Kingdom 11%
10%
4%
8%
12%
13%
8%
67%
7%
8%
6%
7%
9%
8%
9%
5%
9%
33%
52%
58%
66%
32%
42%
71%
51%
25%
41%
30%
56%
59%
63%
48%
53%
56%
50%
48%
37%
32%
30%
60%
46%
16%
41%
8%
52%
62%
38%
34%
28%
44%
38%
39%
41%
19%
Increased
Remained the same
Decreased

Global
Western Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
United Kingdom
The current environment (cont.)
The value of advocacy
% of customers who recently made or are planning
changes with their PFSP
• Similar to global results, advocates across all
countries in Western Europe are more likely to
have increased or be planning to increase their
business with their PFSP compared to those who
are less likely to recommend their PFSP.
• Customers who are advocates in Luxembourg,
Sweden and Spain are most likely to open new
accounts and services.
• Advocates in Luxembourg, Italy, Ireland, the
United Kingdom and Spain are more likely to
consolidate all accounts than customers in other
Western European countries.
39%
35%
52%
46%
36%
35%
25%
69%
41%
39%
32%
36%
37%
36%
43%
43%
38%
54%
9%
6%
0%
8%
5%
5%
6%
11%
10%
9%
7%
5%
5%
5%
6%
7%
7%
13%
24%
24%
29%
28%
22%
28%
19%
58%
20%
19%
18%
20%
26%
31%
24%
32%
24%
35%
2%
4%
2%
4%
1%
1%
2%
5%
3%
1%
2%
3%
2%
2%
4%
1%
2%
5%
Consolidated / will consolidate all accounts
Opened / will open new accounts and services
Very likely to
recommend PFSP
Less than very likely to
recommend PFSP

The power of trust
Degree of trust
% of customers citing different levels of trust in PFSP
• Western European customers express less trust in their
PFSP than seen globally, with the lowest levels of
complete trust seen in Spain and, most notably,
Ireland, countries where confidence in the banking
industry has shown minimal increase and a significant
decrease over the past 12 months.
• The highest levels of complete trust in one’s PFSP are
observed among customers in Norway and
Switzerland.
26%
54%
38%
19%
32%
50%
21%
20%
21%
16%
40%
42%
38%
30%
31%
42%
32%
44%
59%
41%
55%
64%
63%
46%
65%
72%
65%
51%
53%
49%
58%
53%
58%
51%
56%
49%
15%
5%
7%
17%
5%
4%
14%
8%
14%
33%
7%
9%
4%
17%
11%
7%
12%
7%
Complete trust Moderate trust Minimal or no trust
Global
Western Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
United Kingdom

Experience with financial
services providers
Rates/fees
More convenient to have
everything in one place
Access to branches and
banking services
Branch/office location
Information provided by
friend or relative
Information provided by news
or advertising
Their decision to open or
close branches
Other
Not sure
The experience is what matters
Reasons for opening and closing accounts
Reasons that customers opened and closed accounts in past 12 months
• While experience matters, so too do rates and fees (especially in Ireland); both are mentioned as the most common reasons for
opening or closing accounts in Western Europe
• The convenience of having everything in one place is a key factor for opening or closing accounts among customers in
Denmark, Finland, Luxembourg, and Portugal, while branch accessibility is cited by those in Austria
2%
7%
5%
9%
13%
26%
28%
29%
30%
41%
3%
8%
6%
5%
7%
18%
17%
28%
32%
33%
3%
12%
3%
6%
10%
14%
13%
25%
35%
36%
4%
16%
5%
5%
6%
10%
10%
26%
36%
25%
9%
10%
2%
3%
7%
20%
15%
31%
31%
34%
3%
26%
8%
9%
6%
17%
20%
34%
37%
20%
3%
16%
0%
4%
9%
7%
8%
19%
41%
35%
3%
32%
10%
3%
10%
11%
18%
14%
32%
18%
2%
15%
5%
2%
7%
14%
21%
47%
18%
27%
0%
9%
10%
12%
7%
20%
11%
38%
20%
54%
4%
13%
2%
4%
6%
3%
9%
32%
39%
39%
4%
23%
6%
10%
0%
7%
7%
20%
46%
25%
5%
7%
3%
5%
8%
19%
14%
24%
47%
31%
4%
8%
2%
0%
5%
10%
13%
26%
37%
27%
1%
14%
3%
4%
12%
16%
18%
18%
43%
35%
3%
10%
8%
2%
5%
6%
9%
11%
60%
21%
3%
6%
3%
7%
15%
20%
14%
24%
37%
39%
1%
6%
2%
5%
6%
15%
12%
23%
47%
34%
Global
Western
Europe Austria Belgium Denmark* Finland* France Germany Ireland Italy
*Data for closed accounts not shown due to small sample size (<10)
Close accounts
Open accounts

Experience with financial
services providers
Rates/fees
More convenient to have
everything in one place
Access to branches and
banking services
Branch/office location
Information provided by
friend or relative
Information provided by news
or advertising
Their decision to open or
close branches
Other
Not sure
The experience is what matters (cont.)
Reasons for opening and closing accounts
Reasons that customers opened and closed accounts in past 12 months
2%
7%
5%
9%
13%
26%
28%
29%
30%
41%
3%
8%
6%
5%
7%
19%
17%
28%
32%
33%
3%
12%
3%
6%
10%
14%
13%
25%
35%
36%
4%
16%
5%
5%
6%
10%
10%
26%
36%
25%
1%
0%
3%
18%
4%
5%
7%
30%
6%
63%
8%
0%
4%
29%
9%
16%
0%
54%
4%
9%
4%
28%
2%
2%
8%
6%
6%
26%
27%
25%
0%
25%
11%
0%
11%
0%
10%
13%
31%
10%
5%
27%
2%
9%
7%
7%
13%
26%
33%
28%
3%
9%
2%
5%
9%
13%
19%
11%
29%
40%
9%
0%
5%
0%
0%
0%
0%
79%
11%
5%
1%
14%
4%
5%
17%
31%
21%
26%
33%
36%
5%
15%
9%
7%
3%
6%
8%
22%
43%
25%
2%
16%
0%
2%
12%
0%
8%
27%
35%
31%
4%
12%
0%
5%
12%
9%
11%
27%
29%
36%
0%
32%
3%
15%
5%
12%
15%
19%
17%
34%
1%
12%
5%
7%
10%
14%
14%
20%
45%
25%
6%
13%
2%
3%
13%
13%
7%
25%
26%
35%
Global
Western
Europe Luxembourg Netherlands Norway* Portugal Spain Sweden* Switzerland
United
Kingdom
Close accounts
Open accounts
*Data for closed accounts not shown due to small sample size (<10)

Identifying opportunities for banks in Western Europe
Benefit importance and satisfaction
Satisfaction
Importance
Average
Average
High
HighLow
Offers excellent online
banking features
Provides easy access to
branches and ATMs
Has an excellent
reputation
Is transparent about what they
charge for and makes it clear to you
how to avoid paying fees
Handles your
requests quickly
Makes it easy to
conduct your most
frequent
transactions
Has excellent mobile
banking features
Provides excellent
customer service
at call center
Provides banking access at
places other than banks
Communicates
important
information
clearly
Knows your accounts/
services/transactions
Provides
financial plan
Knows previous
contacts/
interactions
Always finds new
ways to improve
how you conduct
your business
Provides access to
financial experts
Invests in
your financial
well being
Proactively
alerts you to
products of
interest
Takes relationship into account
when quoting fees/rates
Customizes
products and
services to fit
your needs
Recommends what you really need
Finds ways to save money
Reaches out if problem may exist
Protects your financial information
Keeps your personal
information safe
Works with you when
you need help or
encounter a problem
• Customers in Western Europe tend to reflect global views, with greater importance being placed on working with customers
when they need help or encounter a problem and offering excellent online banking features
Trust
Convenience
Communications
Advice
Problem resolution

Online/Internet
Mobile
ATMs
Branch or
office
Call center
Make banking simple and clear
Channels usage
% of customers who use channels daily or weekly
• Customers in Western Europe use the ATM and online/Internet channels most frequently.
• Online/Internet usage is highest in Finland, the Netherlands and Portugal, and usage of ATMS is particularly high in Austria,
Ireland and Portugal.
• While used less frequently, customers in Ireland, Italy, Luxembourg and Spain are the most likely to make use of the services
and personal connection available within the branch, offering bank employees a greater opportunity to promote sales and offer
advice if transactional activities can be fulfilled through self-service channels.
3%
4%
9%
10%
20%
9%
20%
49%
20%
37%
1%
2%
4%
6%
21%
4%
13%
48%
12%
43%
0%
0%
3%
5%
20%
0%
10%
63%
14%
44%
1%
2%
2%
3%
17%
2%
14%
45%
6%
52%
2%
1%
1%
7%
14%
2%
1%
25%
13%
45%
0%
0%
1%
1%
17%
0%
6%
47%
10%
60%
1%
2%
3%
5%
26%
4%
9%
33%
8%
37%
Daily Weekly
1%
2%
2%
3%
20%
2%
14%
48%
10%
45%
1%
1%
6%
6%
24%
5%
22%
64%
17%
44%
1%
3%
5%
9%
21%
6%
18%
49%
15%
34%
Global
Western
Europe Austria Belgium Denmark Finland France Germany Ireland Italy
Opportunity 1

Online/Internet
Mobile
ATMs
Branch or
office
Call center 1%
2%
4%
6%
21%
4%
13%
48%
12%
43%
3%
4%
9%
10%
20%
9%
20%
49%
20%
37%
Make banking simple and clear (cont.)
Channels usage
% of customers who use channels daily or weekly
3%
4%
6%
11%
18%
13%
19%
48%
27%
33%
3%
8%
26%
2%
3%
54%
17%
54%
2%
6%
12%
3%
2%
22%
18%
59%
1%
15%
3%
24%
3%
18%
58%
12%
51%
2%
3%
7%
8%
24%
9%
19%
48%
15%
40%
1%
1%
2%
8%
11%
2%
1%
23%
24%
57%
1%
1%
4%
4%
9%
1%
7%
47%
6%
35%
1%
2%
3%
8%
25%
6%
17%
54%
13%
45%
Global
Western
Europe Luxembourg Netherlands Norway Portugal Spain Sweden Switzerland
United
Kingdom
Opportunity 1
Daily Weekly

Bank websites
Information from branch
Bank employees
Friends and/or relatives
Social media
Financial advisor
Third-party websites
TV and/or radio
commercials/ads
Magazine or newspaper ads
Information sent in the mail
Sources used when searching for financial services provider
% of customers selecting among top 3 information sources
9%
10%
12%
14%
16%
13%
29%
22%
29%
38%
6%
7%
7%
16%
13%
7%
25%
23%
23%
32%
8%
5%
5%
13%
12%
6%
29%
32%
23%
30%
5%
9%
4%
10%
17%
1%
31%
18%
16%
25%
8%
3%
7%
12%
9%
3%
28%
11%
18%
20%
2%
7%
8%
4%
19%
13%
19%
29%
14%
42%
5%
4%
3%
15%
19%
4%
22%
14%
18%
22%
BankcontrolledAdvocates
7%
5%
8%
22%
11%
7%
24%
24%
21%
31%
11%
7%
9%
15%
14%
4%
28%
17%
30%
44%
5%
10%
7%
20%
12%
11%
27%
27%
29%
34%
Global
Western
Opportunity 1
• Customers in Western Europe rely most on bank websites, so clarity and simplicity of online communications is essential;
banks should also be aware of the potential advocacy generated by friends and relatives.
• Other sources that customers in certain countries rely on include financial advisors in Finland and France and third-party
websites in the Netherlands and United Kingdom.
= Top 3 information sources
Clarity through communications

Bank websites
Information from branch
Bank employees
Friends and/or relatives
Social media
Financial advisor
Third-party websites
TV and/or radio
commercials/ads
Magazine or newspaper ads
Information sent in the mail
Clarity through communications (cont.)
Sources used when searching for financial services provider
% of customers selecting among top 3 information sources
9%
10%
12%
14%
16%
13%
29%
22%
29%
38%
BankcontrolledAdvocates
Global
Western
United
Kingdom
6%
7%
7%
16%
13%
7%
25%
23%
23%
32%
8%
45%
42%
9%
15%
11%
18%
61%
5%
31%
0%
2%
5%
21%
16%
10%
19%
19%
18%
28%
7%
2%
2%
12%
12%
2%
23%
18%
14%
32%
3%
5%
4%
6%
10%
6%
23%
28%
37%
37%
5%
5%
8%
12%
14%
11%
32%
19%
26%
26%
1%
3%
0%
16%
17%
12%
25%
19%
14%
37%
5%
2%
2%
16%
17%
7%
31%
24%
26%
30%
6%
5%
9%
27%
9%
5%
14%
14%
27%
40%
Opportunity 1
= Top 3 information sources

In person
Can speak to someone known
by phone at the branch during
working hours
Use online financial
management tools to make
decisions around spending,
investments, and loans
Can speak to someone by
phone in a call center whom I
can call any day, any time
By video chat from home or
work
Help customers make financial decisions
Interest in receiving advice
% of customers who are somewhat or very interested in obtaining financial advice or assistance in different ways
• Obtaining advice in person generates the greatest interest among customers in Western Europe across all countries, although
overall the interest is less than customers globally for this and all other methods.
• Other than in-person advice, speaking by telephone with someone at a local branch office during normal business hours
generates the greatest level of interest, and the remaining options are far less appealing.
• Austria and Luxembourg are the most interested in advice, especially the top-most two forms, while the Netherlands and
Norway express the lowest interest.
31%
48%
49%
50%
61%
14%
26%
30%
42%
59%
Global
Western
9%
16%
26%
55%
69%
11%
22%
23%
40%
57%
13%
24%
20%
43%
62%
10%
17%
21%
27%
49%
17%
31%
36%
53%
66%
8%
20%
22%
43%
59%
13%
34%
34%
38%
61%
23%
30%
32%
46%
59%
Opportunity 2

In person
Can speak to someone known
by phone at the branch during
working hours
Use online financial
management tools to make
decisions around spending,
investments, and loans
Can speak to someone by
phone in a call center whom I
can call any day, any time
By video chat from home or
work
31%
48%
49%
50%
61%
14%
26%
30%
42%
59%
Help customers make financial decisions (cont.)
Interest in receiving advice
% of customers who are somewhat or very interested in obtaining financial advice or assistance in different ways
60%
59%
59%
58%
79%
Global
Western
United
Kingdom
8%
16%
23%
23%
38%
7%
27%
35%
26%
40%
18%
31%
37%
44%
61%
18%
32%
36%
40%
64%
5%
22%
23%
36%
54%
15%
24%
32%
49%
64%
11%
24%
29%
32%
54%
Opportunity 2

Build relationships via top engagement
opportunities
Impact of improved experience
% of customers who would pay a little more, add more accounts/services, or increase their balances in exchange for advisory-
related services
• Customers in Western Europe are willing to reciprocate a bank’s investment in them, but at notably lower rates of engagement
than those expressed by customers globally.
• “Proactively alerts you to products, services or sales/promotions/special rates that might be of interest to you” and “allows you
to choose from different pricing options” are unique among the top 10 engagement opportunities in Western Europe.
7%
7%
7%
6%
7%
7%
6%
10%
8%
11%
20%
22%
23%
22%
19%
23%
22%
23%
22%
22%
12%
10%
9%
12%
14%
17%
19%
17%
20%
19%
39%
39%
39%
40%
40%
47%
47%
50%
50%
52%
Net
Engaged
#1
#2
#3
#4
#5
#6
#7
#8
#9
#10
Engagement
Rank
11%
15%
11%
14%
14%
13%
11%
18%
13%
17%
28%
27%
28%
28%
28%
28%
29%
31%
31%
30%
18%
18%
19%
19%
20%
23%
25%
22%
29%
25%
57%
60%
58%
61%
62%
64%
65%
71%
73%
72%#2
#1
#3
#4
#5
#7
#8
#12
#9
#14
Net
Engaged
Engagement
Rank
Provides a plan to help you reach your financial goals
Invests in your financial well being
Always finds new ways to improve how you conduct your
business
Rewards you for being a loyal customer
Finds ways to save you money
Customizes products and services to fit your needs
Takes your overall relationship with them into account when
quoting fees and rates
Proactively alerts you to products, services or sales/
promotions/special rates that might be of interest to you*
Respects your cultural or religious requirements
Allows you to choose from different pricing options*
Pay a little more Add more accounts/services Increase my deposits/investments
Global Western Europe
*Included in regional top 10; not included in global top 10
Opportunity 2

Impact of improved experience – net engagement
related services
• Outside the top-most tier of benefits, countries value different benefits, with “rewarding customers for being loyal customers”
found in the top 3 opportunities in 9 countries and “finding ways to save customers money” identified in 8 countries.
Top 10 regional engagement opportunities
#1
Provides a plan to help you reach
your financial goals
#2 Invests in your financial well being
#3
Always finds new ways to improve
how you conduct your business
#4
Rewards you for being a loyal
customer
#5 Finds ways to save you money
#6
Customizes products and services to
fit your needs
#7
Takes overall relationship with them
into account when quoting fees/rates
#8
Proactively alerts you to products,
services or sales/promotions/special
rates that might be of interest to you
#9
Respects your cultural or religious
requirements
#10
Allows you to choose from different
pricing options
opportunities (cont.)
57%
60%
58%
61%
62%
64%
65%
71%
73%
72%
39%
39%
39%
40%
40%
47%
47%
50%
50%
52%
36%
33%
27%
55%
46%
39%
43%
66%
37%
33%
49%
32%
31%
30%
55%
62%
46%
50%
54%
29%
29%
18%
30%
34%
55%
44%
58%
56%
73%
28%
39%
31%
25%
30%
42%
38%
33%
39%
47%
20%
37%
34%
31%
42%
39%
29%
34%
38%
42%
65%
38%
35%
39%
45%
48%
47%
49%
78%
54%
53%
41%
46%
56%
44%
55%
56%
56%
58%
69%
Global
Western
Opportunity 2
**
**
**
**
**
**
**
**
**
**
**
= 3 highest rated engagement benefits among top 10
**Data not shown due to small sample size (<10)

#1
#3
#4
customer
#6
fit your needs
#7
Takes overall relationship with them
into account when quoting fees/rates
#8
#9
requirements
#10
pricing options
57%
60%
58%
61%
62%
64%
65%
71%
73%
72%
Impact of improved experience – net engagement
related services
39%
39%
39%
40%
40%
47%
47%
50%
50%
52%
opportunities (cont.)
73%
94%
100%
82%
74%
69%
82%
100%
95%
98%
24%
41%
35%
34%
36%
28%
58%
32%
46%
51%
29%
24%
39%
39%
46%
49%
76%
27%
44%
62%
53%
54%
65%
44%
52%
60%
41%
22%
38%
35%
42%
38%
46%
41%
47%
38%
30%
33%
34%
56%
46%
39%
32%
43%
49%
39%
41%
63%
47%
63%
44%
51%
26%
55%
33%
41%
33%
44%
42%
67%
30%
48%
Global
Western
Europe Luxembourg Netherlands Norway Portugal Spain Sweden
Switzerla
nd
United
Kingdom
Opportunity 2
**
**
**
**
**
**
**
**
= 3 highest rated engagement benefits among top 10

Global
Western Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
United Kingdom
When problems arise, become the customer’s
advocate
Incidence
% of customers who experienced a problem in the
past 12 months that required resolution assistance
• Western European customers experience problems
to a lesser degree than elsewhere.
• Within Western Europe, customers in Denmark,
Ireland, Portugal and Spain are most likely to report
experiencing a problem, comparable to levels seen
globally.
• Customers in Germany, Norway, Sweden,
Switzerland and the United Kingdom are the least
likely to have reported problems in the past 12
months.
Opportunity 3
20%
21%
12%
30%
38%
20%
23%
26%
23%
34%
21%
28%
26%
33%
23%
29%
25%
34%

Global
Western Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
United Kingdom
When problems arise, become the customer’s
advocate (cont.)
Satisfaction
Degree of resolution satisfaction among those who
experienced problems
• Denmark, Ireland and Spain, three countries with
among the highest reported incidence of problems,
also have among the lowest percentage of
customers who are very satisfied with their problem
resolution; other countries with fewer very satisfied
customers include Italy and Portugal.
• These five countries also had the highest rates of
customers less than satisfied with the resolution.
• Banks in these countries, as well as others, have
an opportunity to increase advocacy by improving
their customers’ problem resolution experience.
Opportunity 3
31%
39%
53%
15%
21%
32%
30%
31%
16%
20%
35%
29%
29%
11%
38%
42%
28%
25%
34%
33%
0%
29%
27%
39%
36%
50%
31%
30%
27%
36%
36%
40%
20%
21%
30%
42%
35%
28%
47%
56%
52%
29%
34%
19%
53%
50%
38%
35%
35%
49%
42%
37%
42%
33%
Very satisfied Satisfied Less than satisfied

Global
Western Europe
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
United Kingdom
Customers are actively exploring and pursuing their options
Past and future activity
% of customers who opened and closed
accounts/services in past year or intend to do so in
coming year
• Western Europeans are somewhat less active than
global customers as a whole in opening or closing
accounts with their providers.
• Customers in Austria, Luxembourg and Spain tend to
exhibit the greatest activity over the past 12 months
or anticipated activity over the next 12; customers in
France, the Netherlands and the United Kingdom, on
the other hand, have been among the least active in
Western Europe.
23%
22%
22%
33%
18%
22%
14%
78%
26%
28%
23%
19%
22%
30%
24%
27%
24%
40%
35%
39%
46%
47%
42%
39%
26%
84%
36%
36%
38%
34%
38%
36%
41%
45%
39%
52%
Opened/closed accounts in past 12 months
Intend to open/close accounts in next 12 months

47%
38%
26%
25%
50%
54%
45%
37%
19%
17%
49%
43%
38%
36%
53%
53%
42%
43%
34%
21%
34%
38%
21%
40%
32%
31%
34%
-1%
26%
61%
40%
28%
44%
47%
40%
31%
46%
41%
39%
33%
44%
30%
57%
46%
33%
16%
23%
45%
60%
39%
30%
23%
31%
38%
33%
25%
26%
31%
12%
27%
54%
28%
19%
19%
-5%
26%
23%
18%
26%
12%
22%
26%
19%
14%
11%
9%
29%
15%
20%
8%
-2%
5%
12%
-1%
14%
#1
#3
#4
customer
#6
fit your needs
#7
Takes your overall relationship with
them into account when quoting fees
and rates
#8
#9
requirements
#10
pricing options
Top-10 benefit average
31-benefit average
Banks have new competitors for prized offerings
Competitive advantage of traditional banks vs. new type of bank
Difference in % share of mentions selecting traditional bank versus new type of bank as best able to offer benefits
• Western European customers view their banks favorably overall, but traditional banks are most vulnerable to new types of banks
able to find new ways to improve how customers conduct their business; considering the top 10 engagement opportunities overall,
banks in Ireland, Italy, Luxembourg and Spain are most vulnerable, whereas those in Austria, Belgium, France, Norway and
Switzerland view traditional banks more favorably.
Global
Western
21%
16%
16%
21%
9%
20%
15%
14%
15%
5%
14%
12%
33%
25%
19%
32%
26%
34%
32%
24%
21%
14%
20%
33%
**
**
**
**
**
**
**
**
**
**
**
*Global average for global top 10 engagement opportunities, regional average for regional top 10 engagement opportunities
= Negative gap: traditional banks receive lower share of mentions than new types of banks

33%
25%
19%
32%
26%
34%
32%
24%
21%
14%
20%
33%
-9%
-11%
-16%
5%
-37%
-21%
35%
0%
-9%
-38%
-9%
-23%
39%
28%
17%
50%
-1%
52%
43%
36%
14%
16%
13%
45%
43%
33%
29%
15%
55%
51%
48%
38%
31%
29%
3%
27%
56%
54%
41%
32%
19%
7%
37%
16%
20%
14%
14%
29%
13%
17%
12%
9%
9%
16%
-12%
37%
40%
27%
39%
55%
29%
27%
42%
20%
#1
#3
#4
customer
#6
fit your needs
#7
Takes your overall relationship with
them into account when quoting fees
and rates
#8
#9
requirements
#10
pricing options
Top-10 benefit average*
31-benefit average
Banks have new competitors for prized offerings (cont.)
Competitive advantage of traditional banks vs. new type of bank
Difference in % share of mentions selecting traditional bank versus new type of bank as best able to offer benefits
Global
Western
United
Kingdom
21%
16%
16%
21%
9%
20%
15%
14%
15%
5%
14%
12%
*Global average for global top 10 engagement opportunities, regional average for regional top 10 engagement opportunities
= Negative gap: traditional banks receive lower share of mentions than new types of banks
**
**
**
**
40%
32%
36%
54%
26%
51%
51%
24%
31%
-10%
48%
14%
31%
23%
7%
26%
19%
6%
25%
30%
32%
17%
33%
36%
**
**
**
**

EY’s eight customer segments
Banks’CompetitiveDifferentiation
Consumer Engagement
(willingness to pay more for key benefits)
Upwardly
Mobiles
New World
Adopters
Safety
Seekers
Traditionalists
Elites
Balancers
Unhappy and
Unmovings
Self-Sufficients
HighLow
Small
Large
1-9% 1 10-19% 20% or more
Assets under management of total population
Relative population
• Overall, customers in Western Europe are less willing to pay more for improved delivery of key benefits compared with
the global customer population.

► Focus on the customer experience to build complete trust and create advocates
► Preserve banks’ competitive advantage in delivering benefits that are fundamental to banking
and highly valued
► Given the competitive landscape, make investments in other areas, generally those that will
increase engagement through customized advice and solutions
► Develop targeted, segment-based strategies. This requires careful attention to customer
experience benefits, channel preferences, priorities and behaviors
► Focus on three areas of opportunity:
► Make banking simple and clear through transparency of fees, simplicity of offers and
communication, and delivery of an omni-channel experience
► Help customers make the right financial decisions in a complex environment through more
and better advice and through greater use of data and digital channels to empower customers
► Work with customers when problems arise and become their advocate through
improved problem resolution capabilities
Banks are poised for growth and well positioned to continue the
recent momentum in building customer confidence

Summary
EY surveyed 32,642 retail banking customers.
• To qualify, respondents had to own at least one financial
product as defined in the survey and have access to the
internet.
• The survey was translated into local languages and
conducted online in 43 countries.
• The survey instrument was pre-tested in Brazil, China,
India, Spain and the United States to ensure the survey
questions were understood and captured relevant aspects
of customers’ banking behaviors and experiences.
• All financial questions referenced each country’s local
currency and were standardized into US dollars based upon
the purchasing power parity conversion factor as reported
by The World Bank for 2011 for all countries except
Argentina, for which data was not available; the Big Mac
index for July 2013, as developed and reported by The
Economist, was used as an alternative for Argentina.
• The target quotas were established based on age and
gender in each country.
• All data was weighted to reflect each country’s population
based on age and gender, as well as each country’s global
representation. Exceptions included Egypt, Kenya and
Saudi Arabia where prevalence of male decision makers in
the household resulted in the data being weighted by age
only. Estimates used in weighting were drawn from The
World Bank’s International Comparison Program database,
which provides demographic indicators for countries and
areas of the world with a population of 5,000 or more.
• The average interview length was 16 minutes.
North America Western Europe Eastern Europe Asia Pacific
Canada
United States
503
1,516
Austria
Belgium
Denmark
Finland
France
Germany
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Spain
Sweden
Switzerland
United
Kingdom
406
406
127
128
793
808
410
764
124
402
128
400
533
128
400
767
Czech
Republic
Poland
Russia
Turkey*
Ukraine
415
508
1,806
872
507
Australia
China
Hong Kong
Indonesia*
Japan
Malaysia*
Singapore
South Korea
Vietnam*
414
2,776
472
1,504
1,503
504
405
514
776
Latin America
Argentina
Brazil
Chile*
Columbia*
Mexico*
502
1,684
400
518
1,875
Middle East
Egypt*
Saudi Arabia
753
500
Africa
India
Kenya*
Nigeria*
South Africa*
502
1,500
512
India 2,177
Numbers represent respondents per country
*Emerging markets

Demographics
Demographics reflect weighting of survey responses. All data was
weighted to reflect each country’s population based on age and
gender, as well as the country’s representation among the 43
countries surveyed.
Gender
36%
28%
36% 18-34
35-49
50 or older
Female
48%
Male
52%
Age
Education
*All financial information was captured in local currency and converted to US dollars using purchasing power parity conversion factor; see Research methodology for
detail.
59%
15%
26%
High school graduate or
less
Attended
college/university
College/university
graduate
37%
23%
17%
6%
17%
Decline to answer
100,000 USD or
more
50,000 - 99,999
USD
25,000 - 49,999
USD
Less than 25,000
USDMedian household income: 28,090 USD
24%
22%
13%
12%
15%
14%
Decline to answer
250,000 USD or
more
100,000 - 249,999
USD
50,000 - 99,999
USD
Median investible assets: 46,875
USD
Annual household
income*
Investable assets*

Contacts
Philippe Desombere
Market Leader Financial Services Belgium
Advisory Services
Mobile: +32 476 49 49 51
philippe.desombere@be.ey.com
Kurt Cogghe
Executive Director Customer & Revenue Growth
Advisory Services
Mobile: +32 471 64 77 48
kurt.cogghe@be.ey.com

EY | Assurance | Tax | Transactions | Advisory
About EY
EY is a global leader in assurance, tax, transaction
and advisory services. The insights and quality
services we deliver help build trust and confidence
in the capital markets and in economies the world
over. We develop outstanding leaders who team to
deliver on our promises to all of our stakeholders.
In so doing, we play a critical role in building a
better working world for our people, for our clients
and for our communities.
EY refers to the global organization of member
firms of Ernst & Young Global Limited, each of
which is a separate legal entity. Ernst & Young
Global Limited, a UK company limited by
guarantee, does not provide services to clients. For
more information about our organization, please
visit www.ey.com/be.
The services offered by Ernst & Young in Belgium
refer to services offered by Ernst & Young
Bedrijfsrevisoren/Réviseurs d’Entreprises
BCVBA/SCCRL, Ernst & Young Tax Consultants
BCVBA/SCCRL, Ernst & Young Accountants
BCVBA/SCCRL, Ernst & Young Special Business
Services CVBA/SCRL or their respective
associated companies in Belgium, each of which is
a separate legal entity and have their registered
offices at De Kleetlaan 2, 1831 Diegem, Belgium.
© 2014 EYGM Limited.
All Rights Reserved.
ey.com/be

EY global consumer banking survey - Western European highlights

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