'Challenger' banks top satisfaction results in poll

DIGITAL challenger banks have topped the latest set of banking satisfaction results published by the Competition and Markets Authority (CMA).

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Monzo was ranked in first place among consumers in surveys covering Britain and Northern Ireland, while traditional banks generally scored lower than their digital rivals, the watchdog said. Introduced by the CMA as part of its Retail Banking Order, the banking satisfaction survey is an annual review carried out by research companies Ipsos and BVA-BDRC.

The large-scale survey is designed to highlight how banks are serving their customers.

The CMA said there is a new entrant in this year's survey - Mettle, an online business current account provider from NatWest.