Commentary

Don’t write off the big banks as they take on startups at their own game

The ‘lumbering giants’ have improved their core services to fend off their smaller rivals

How big a threat are Revolut, Monzo and Starling to the established order?
How big a threat are Revolut, Monzo and Starling to the established order? Photo: Betty Laura Zapata/Getty Images

Digital banks represent “a massive threat” to the incumbents because of their much better customer satisfaction scores and lower costs, brokers Keefe, Bruyette & Woods declared a year ago.

So which UK bank has the best customer satisfaction score? Is it plucky upstart Monzo? Cuddly challenger Starling Bank? 

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