According to Forrester’s 2024 European Banking Customer Experience Index (CX Index™) rankings, CX quality has dropped significantly throughout the region. Compared to other countries, the UK provides the highest-quality customer experiences, with half of the top 10-ranking banks in Europe from the UK.

Based on a survey of more than 18,000 customers in France, Germany, Italy, the Netherlands, Poland, Spain, Sweden, and the UK, Forrester’s European Banking CX Index benchmarks the CX quality of 60 banks to evaluate customers’ banking experiences.

Key findings from the research include the following:

  • Challenger and mutual banks outperform traditional banks. Eight of this year’s top 10 banks in Europe are smaller retail banks, known as challengers, or cooperative financial institutions, known as mutuals. Compared to customers of traditional banks, customers of mutuals and challengers rate their experiences as more emotionally positive.
  • Nationwide Building Society secures the top spot. The UK bank performs particularly well in providing products and services that customers need and processing transactions quickly — two of the most important CX drivers for European banking customers.
  • Hybrid CX creates the best experiences. A combination of digital and physical channels evokes the easiest, most effective, and most emotionally positive experiences for European banking customers.

To access this research or arrange an interview with a Forrester analyst, please contact press@forrester.com.