In July 2021, 42.6 million Britons visited the financial services website From ComScore

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In July 2021, 42.6 million people in the UK visited the financial services website. Overall, in July 2021, 83.7% of visitors spent an average of 90 minutes accessing these services, half of which was spent on the bank website. In July 2021, a total of 67.7% of the UK population visited the bank’s website.

To compare digital strategies, comScore proposes two definitions: “traditional” and “digital first”.

Tradition: it consists of five physical retail banks and has the largest number of independent visitors in the UK in July 2021.

Digital priority: it is composed of the top five fintech companies operating in the banking field and providing current accounts and / or credit and debit cards.

The chart below makes it easy to compare the coverage of the two market segments over the past four years.

Overall, the coverage of digital priority is about 10% of the UK’s total digital population, while the coverage of traditional banks is 42.7%.

In addition, the data show that digital priority banks are a supplement to traditional banks, not a replacement. Taking the following table as an example, 28.9% of curve.com users will also visit barclays.com; 29.8% of users visit lloydsbank.com; 20.8% visit santander.co.uk; 28.2% visit natwest.com; 30% visit hsbc.co.uk.

Only a small number of customers of traditional banks also visit one of the fintech websites. For example, 9.4% of natwest.com visitors also visit Monzo.

Obviously, a major banking spin off will not happen overnight. If anything, traditional banks can launch cross selling and up selling strategies, thanks to their rich product portfolio and the largest audience in the banking industry so far. This is seen in the display ads of these banks: in July 2021, about 4 million PC visitors watched 17 million display ads from banks (traditional or digital priority). In other words, 16% of desktop users in the UK are exposed to advertising 4.1 times. More reading: GP bullhound: Q4 financial technology investment report in 2020 iResearch: Research Report on the development of China’s financial technology industry in 2020 (download attached) Dealroom: financial technology report for the third quarter of 2021 facbook & iResearch: insight into the opportunities of financial technology going to sea CFTE: the total value of global financial technology unicorn in the first half of 2021 is US $1.8 trillion KPMG: financial technology report for the first half of 2021 GP bullhound: Q2 financial technology report in 2021 financial technology promotes China’s Green Financial Development: cases and prospects GP bullhound: the third half of 2020 Fourth quarter Asian investment report GP bullhound: financial technology report for the third quarter of 2020 KPMG: 50 leading financial technology enterprises in China in 2020 (with download) Evergrande Research Institute: 2020 China financial technology report (with download) GP bullhound: Asian market trend report in the third quarter of 2020 Research Report on financial technology innovation and development: data elements and financial technology innovation CrunchBase: Latin American financial technology investment reached US $2 billion in 2020

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