The findings draw on a survey of 5,000 consumers across five European markets conducted by Opinium Research between March and April 2026. In the UK, 29% of respondents said service from high street banks and building societies had worsened over the past three years, against 26% who said it had improved, yielding a net score of negative three. Digital banks and fintechs recorded a net score of positive 36, with 43% of respondents citing improvement and only 7% citing deterioration.

The table from the CRIF report illustrates a clear hierarchy. Investment and asset management firms scored a net positive 12, credit and lending providers positive nine, and insurers flat. Traditional incumbents stood alone in negative territory. Sara Costantini, regional director for the UK and Ireland at CRIF, said incumbents can no longer rely on scale or legacy to retain customers: “Digital banks and fintechs are setting the standard for what good looks like in financial services, and consumers can see the difference.”

Branch closures are a contributing factor. One in five respondents (20%) said that the reduction in physical branches had made it harder to access support, while 16% said the growth of digital services had itself reduced service quality and 15% believed digitisation had been driven primarily by cost reduction rather than customer benefit. That last figure matters commercially: it suggests a meaningful segment of consumers is sceptical of digital migration as a service improvement rather than a cost exercise.

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