January 5, 2022

Which banking brands are most loved?

Introducing The Top 100 Most Loved Financial Services Brands

Author:
Owen Robson, Insights Executive
In a world of uncertainty where the lasting effects of Covid-19 still remain, Barclays has been able to raise its profile through the measures it put in place early on in the pandemic to support its customers.

Our latest BrandVue report reveals the UK's most loved financial services brands, including banking, highlighting the risers and fallers compared to 2020, whilst also shining light on the notable success stories.


The financial services industry is built on the foundation of trust and, maybe for the first time in a number of years, the sector was seen as one of the ‘good guys’ during the pandemic, reflected in their understanding of customers’ needs and situations.

Our brand new report highlights a shift in consumer attitudes towards more traditional ‘bricks and mortar’ brands, where we’ve seen increases in Brand Love for the likes of Barclays, Lloyds, Halifax, Santander, NatWest, and HSBC.

Barclays wins first place in the Banking category, placing it as the most loved banking brand in 2021, leapfrogging Nationwide from last year’s top spot and being closely followed by Lloyds in third place.

In a world of uncertainty where the lasting effects of Covid-19 still remain, Barclays has been able to raise its profile through the measures it put in place early on in the pandemic to support its customers.

Initiatives such as mortgage holidays and ‘Money Mentors’ have bolstered Barclays’ Brand Trust and Brand Love amongst consumers. Interestingly, Barclays is mostly loved across the younger age groups, in particular standing out for Gen Z and Millennials. For these demographics, Barclays outperforms its competitors for attributes such as ‘Dependable’, ‘Straight-Forward’ and ‘Expert’. Dependability is a driving force for Barclays’ Brand Love, as its customers in this time greatly appreciate the brand’s longevity and ease of access across its platforms such as the mobile app and the minimal branch closures.

Despite dropping down in the banking category, Nationwide has seen a healthy rise in Brand Love placing them in a very close second to Barclays. The difference is minimal, and it’s very much a similar story when it comes to the success of the brand in 2021. Nationwide is a brand perceived as much more accessible to a wider consumer market, with older generations scoring it very highly for Brand Love compared to its competitor banks.

Lloyds is in third position for the second year running, behind Barclays and Nationwide. Again, the traditional bank has performed strongly with the ‘by your side’ strapline being very popular, a key reason as to why the brand has the highest advertising awareness of all the category medallists.

Download the report here to see the full list of the Top 100 Most Loved Financial Services Brands and find out what it means for a customer to be ‘in love’ with your brand.


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