Cardlytics Banking Loyalty Index 2026

From loyalty to relevance: Why personalised rewards matter more than ever for UK banks

UK consumers may feel loyal to their bank, but that loyalty is increasingly conditional.

New research from Cardlytics, based on a nationally representative survey of 4,000 UK adults, shows that while most customers are not actively planning to switch, many are open to reassessing where they bank when the value is clear.

Two thirds of consumers (65%) say they feel loyal to their main bank, and 60% say they are unlikely to switch in the next 12 months. But that stability should not be mistaken for permanence. More than half (57%) have switched their main bank account at some point as an adult, and many now spread their money across more than one provider.

The result is a banking market where retention is no longer just about keeping customers from leaving altogether. It is about staying relevant in more of their everyday financial decisions.

Trust and service still matter, but they are now the baseline

When asked what keeps them with their current bank, UK consumers are most likely to cite good customer service (40%), brand trust and reputation (35%), and the quality of mobile or online banking (32%).

These are the foundations of a strong banking relationship. They help explain why customers stay put, particularly older generations. For example, Baby Boomers are significantly more likely to say customer service is a key reason they stay with their bank (50%).

But these factors are increasingly expected. They are essential to retention, but on their own they may be less effective at creating real competitive advantage.

Unlock the full Cardlytics Banking Index 2026

The shift from passive loyalty to active relevance is changing how the UK banks. To read the full analysis on how financial value triggers action, the impact of personalised rewards on 18 to 34 year olds, and why loyalty is no longer exclusive, download the complete report below.

Get the full insights to discover:

• The Switching Triggers: The specific financial incentives driving 25% of Gen Z to reconsider their bank.
• The Personalisation Opportunity: How tailored rewards can increase retention by up to 55% for key demographics.
• The Visibility Challenge: Why 22% of customers are unaware of the rewards their banks already offer.
• Multi-banking Trends: Why customers are spreading their finances and how to capture a greater share of wallet.