Retail Banking Coronavirus Weekly Insights – Week End 10 July 2020

This week, MESH have launched their UK Retail Bank Dashboard, where you can access this week’s data, as well as the data collected over the past few months. For a full version of this week’s insights, take a look at the dashboard here.
Visit MESH’s blog here, for the full analysis of this week’s key trends.

Summary: Key Trends for this Week

Advertising Again
This week sees advertising reach increase again, having fallen over the past month. Barclays experiences an increase in TV, social media and radio reach with its ‘Life Skills’ and fraud messaging working well across channels.  Starling is back out with its flying shed ad on TV and sees engagement through social due to its travel capabilities.

Branches Back
The reach of bank branches increased to almost pre-COVID-19 levels, as more people are out and about. In contrast, email suffers a big decline and digital owned touchpoints fall slightly.  People are responding well to seeing banks take the necessary precautions in branch to protect their customers.

Cooperative Conversations
Despite worry still remaining relatively high and a slight drop in the number of people saying banks are doing enough, this week we see conversations increase – mostly positive.  Whilst people talk about Barclays’ interest rate, ISA and savings accounts, the Co-Operative bank is recommended due to its online bank ‘Smile’ and overall brand ethics.