Current accounts

1. Market Context as Switching Rises:

   - Economic optimism is gradually improving, but people’s satisfaction with their financial situation still lags behind their general happiness. While economic conditions are mixed, there has been a noticeable increase in account switching. Brands that have gained market share tend to offer incentives for opening accounts, though many people still rely on recommendations, especially those under 35. 

2. The Increasing Use of Multiple Current Accounts:

   - More customers are opening additional current accounts that rank lower in importance (4th–6th in priority). Many of these are challenger accounts, chosen for incentives or switched when better interest rates or conditions arise.

   - The use of incentives to attract new customers is growing, with banks successfully promoting savings accounts alongside current accounts. Interest rates are becoming an important factor for account switching, although many still maintain balances in accounts with limited interest.

3. From Online to Mobile Banking:

   - Mobile banking is gaining popularity, especially among younger age groups. Factors such as recommendations, ease of use, reputation, and interest rates play a key role in deciding on a bank account.

   - Brands, particularly fintech companies, must offer unique features beyond digital services, such as budgeting tools. Although digital services are expected, maintaining a human touch remains essentia, Banks need to balance technology with personalized customer service.