GROUP OF ExiStiNG bANKS
GROUP OF DiGitAL ChALLENGERS
AVERAGE COST TO ACQUIRE NEW
CURRENT ACCOUNT CUSTOMERS
DAYS FROM APPLICATION TO CURRENT
ACCOUNT FUNCTIONALITY BEING ACCESSIBLE
TIME TO LAUNCH A NEW FEATURE
RETAIL BANKING CUSTOMERS PER FTE
EMPLOYEES RATING THEIR
COMPANY AS A 5-STAR EMPLOYER
150
~$
3
3-6
months
1,000
<
25%
68%
0
2
weeks
30
~$
2,500
>
GROUP OF DiGitAL ChALLENGERS
GROUP OF ExiStiNG bANKS
~$
~$
150
30
3
0
months
weeks
3-6
2
<
>
1,000
2,500
25%
68%
AVERAGE COST TO ACQUIRE NEW
CURRENT ACCOUNT CUSTOMERS
DAYS FROM APPLICATION TO CURRENT
ACCOUNT FUNCTIONALITY BEING ACCESSIBLE
TIME TO LAUNCH A NEW FEATURE
RETAIL BANKING CUSTOMERS PER FTE
EMPLOYEES RATING THEIR
COMPANY AS A 5-STAR EMPLOYER
HOW EXISTING BANKS COMPARE TO DIGITAL CHALLENGERS
Source: Oliver Wyman
www.oliverwyman.com