Digital Effectiveness in European Retail Banking – APEX Matrix™ Assessment to Identify the Digital Banking Leaders

27 Sep 2016
by Aaditya Jain, Archit Mishra, Jimit Arora, Ronak Doshi

Since the financial crisis, European banks have not made returns in excess of their cost of equity, and the trend seems unlikely to change in the coming years. Low interest rates and intensifying regulatory scrutiny have further increased the pressure on the traditional banking business model. At the same time, digital disruption combined with the influx of investments into FinTechs is forcing the banks to consistently fund their innovation agenda in order to stay relevant to their customers.

European banks are, thereby, aggressively investing in digital channels to serve the growing demand for cutting-edge digital banking experiences. At the same time, the focus is also on maintaining an optimized physical network equipped with multiple self-service technologies and customer-friendly branch formats to optimize the operational costs as well as enhance their appeal to the millennial customers. Banks are also trying to mobilize the power of social media for more cost-effective customer service.

In this research, we have analyzed 18 large European retail banks and mapped them on Everest Group’s Ability | Performance | Experience (APEX) Matrix, which is a composite index of a range of distinct metrics related to each bank’s customer-facing digital investments and their associated business impact. In this report, we focus on:

  • Assessment of the bank’s digital functionality on multiple capability-related dimensions
  • Characteristics of the leading banks on individual themes assessed on Everest Group’s APEX Matrix for digital effectiveness in banking


  • Industry: Retail banking
  • Geography: Europe
  • Enterprises: Includes 18 large European banks, short-listed on the basis of asset size as well as their focus on retail banking


Only publicly-available information (i.e., information from a consumers’ perspective) has been used for the analysis in this report. Key sources include:

  • Google Play and App Store
  • Demos / consumer access to mobile apps and online platforms of the banks that are assessed
  • Social media platforms – Twitter, Facebook, LinkedIn, and YouTube
  • Aggregators/tools – Alexa, App Anie, Likealyzer, SEMRush, SocialBlade, and Twitonomy
  • Company filings and press releases (annual reports, investor presentations, SEC filings, etc.)


Application & Digital Services

Banking, Financial Services & Insurance (BFSI) - Information Technology Outsourcing (ITO)


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