The United Kingdom (UK)-based Nationwide Building Society is the largest building society in the world, with approximately 16.3 million members. As well as being a building society, Nationwide is one of the United Kingdom’s leading and most widespread financial institutes, specializing in household savings and mortgages. Market share of Nationwide products In 2024, Nationwide’s market share of the UK’s savings accounts market declined slightly, to 9.6 percent. Impressively, the Swindon-based company still held a UK market share of 11.5 percent in 2024. The group also saw an increasing market share of current accounts held in the UK in 2023. Assets and profit Between 2014 and 2023, the Nationwide Building Society saw total assets increase. The vast majority of its assets were through loans and advances to customers. Although the group has seen market shares increase in products offered, the building society has seen underlying profit decrease annually between 2016 and 2020 before rising again in 2021.

Interest-bearing sight deposits were the type of savings deposit with the highest outstanding amount in the United Kingdom in the first half of 2025. The outstanding value of those types of deposits in the UK amounted to 903 billion British pounds that year, while the value of NS&I deposits was 241 billion British pounds.

Provides information on savings in adult and junior Individual Savings Accounts - the number of individuals subscribing to ISAs and market values of ISAs. Source agency: HM Revenue and Customs Designation: National Statistics Language: English Alternative title: Individual Savings Accounts Main Tables 9.6

Following the FCA's Cash Savings Market Review 2023, it conducted an in-depth analysis of the profits made on savings and their contribution to overall firm profitability. Profitability is key to firms being able to operate effectively and provide services to consumers.

Data and Code for: Cyclical Attention to SavingAbstract: I explore the business-cycle implications of household inattention to savings product choices. In a model with heterogeneous banks, savers pay more attention to their bank choice when the marginal utility of income is high. Consistent with this, in data from the UK retail savings market I find savers more reliably choose products closer to the top of the available interest rate distribution during contractions. Countercyclical attention amplifies shocks to consumption: after contractionary shocks, attention rises, so savers experience higher interest rates, which further reduces consumption. In a quantitative New Keynesian model this amplification increases the variance of consumption by 13.6%.

Nearly all the outstanding savings in cash ISAs in the United Kingdom (UK) were located in monetary financial institutions in 2024. That term can refer to banks and building societies. Meanwhile, the estimated outstanding value of cash ISAs held in national savings and investments (NS&I) amounted to over five billion British pounds that month. The overall value of cash ISAs was much higher in 2024 than a year earlier.

Uncover the dynamic UK consumer banking market's growth trajectory (2025-2033). This comprehensive analysis reveals key drivers, trends, and challenges facing major players like Allied Irish Bank, Metro Bank, and others. Explore market segmentation, regional data, and future projections.

August 2024 marked a significant shift in the UK's monetary policy, as it saw the first reduction in the official bank base interest rate since August 2023. This change came after a period of consistent rate hikes that began in late 2021. In a bid to minimize the economic effects of the COVID-19 pandemic, the Bank of England cut the official bank base rate in March 2020 to a record low of *** percent. This historic low came just one week after the Bank of England cut rates from **** percent to **** percent in a bid to prevent mass job cuts in the United Kingdom. It remained at *** percent until December 2021 and was increased to one percent in May 2022 and to **** percent in October 2022. After that, the bank rate increased almost on a monthly basis, reaching **** percent in August 2023. It wasn't until August 2024 that the first rate decrease since the previous year occurred, signaling a potential shift in monetary policy. Why do central banks adjust interest rates? Central banks, including the Bank of England, adjust interest rates to manage economic stability and control inflation. Their strategies involve a delicate balance between two main approaches. When central banks raise interest rates, their goal is to cool down an overheated economy. Higher rates curb excessive spending and borrowing, which helps to prevent runaway inflation. This approach is typically used when the economy is growing too quickly or when inflation is rising above desired levels. Conversely, when central banks lower interest rates, they aim to encourage borrowing and investment. This strategy is employed to stimulate economic growth during periods of slowdown or recession. Lower rates make it cheaper for businesses and individuals to borrow money, which can lead to increased spending and investment. This dual approach allows central banks to maintain a balance between promoting growth and controlling inflation, ensuring long-term economic stability. Additionally, adjusting interest rates can influence currency values, impacting international trade and investment flows, further underscoring their critical role in a nation's economic health. Recent interest rate trends Between 2021 and 2025, most advanced and emerging economies experienced a period of regular interest rate hikes. This trend was driven by several factors, including persistent supply chain disruptions, high energy prices, and robust demand pressures. These elements combined to create significant inflationary trends, prompting central banks to raise rates to temper spending and borrowing. However, in 2024, a shift began to occur in global monetary policy. The European Central Bank (ECB) was among the first major central banks to reverse this trend by cutting interest rates. This move signaled a change in approach aimed at addressing growing economic slowdowns and supporting growth.

The UK Fintech market, valued at £14.74 billion in 2025, is experiencing robust growth, projected to expand at a compound annual growth rate (CAGR) of 10% from 2025 to 2033. This expansion is driven by several key factors. Increased smartphone penetration and digital literacy amongst consumers fuel the adoption of mobile banking and payment apps like Revolut and Monzo. The rise of open banking initiatives empowers third-party providers to access customer financial data, fostering innovation in personalized financial services, including digital lending and investment platforms such as Nutmeg and Moneybox. Furthermore, a regulatory environment that encourages innovation, coupled with a thriving startup ecosystem, is attracting significant investment and driving competition within the sector. The market’s segmentation reveals strong growth in money transfer and payment services, fueled by international remittance needs and the increasing preference for contactless and digital transactions. Growth in digital lending is also significant, driven by the demand for accessible and quick loan solutions. However, challenges remain, including cybersecurity concerns, regulatory hurdles around data privacy, and the potential for market consolidation as larger players acquire smaller fintech firms. The increasing adoption of AI and machine learning to enhance risk assessment and customer service contributes to market growth and differentiation. The forecast for the UK Fintech market through 2033 suggests continued upward trajectory, although the pace of growth might moderate slightly in the later years due to market saturation and increased competition. The continued integration of innovative technologies such as blockchain and cryptocurrency will redefine service offerings, potentially creating new market segments. Businesses are increasingly adopting Fintech solutions for streamlined payment processing and improved financial management. The expanding usage of AI and machine learning in fraud detection and personalized financial advice will further drive market growth and enhance customer experience. The continued success will hinge on addressing regulatory complexities, maintaining consumer trust, and adapting to the evolving needs of a dynamic market landscape. This report provides a detailed analysis of the dynamic United Kingdom Fintech market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, this study offers valuable insights into market size, trends, and future projections, focusing on key players like Revolut, Monzo, and Wise (formerly TransferWise). The report utilizes a robust methodology incorporating historical data (2019-2024) and forecasts (2025-2033) to deliver actionable intelligence for stakeholders in this rapidly evolving sector. Recent developments include: September 2023: Moneybox, the award-winning saving and investing platform, launched a new market-leading Cash ISA, offering 4.65% AER (variable) on deposits of GBP 500 (USD 629.99) or more. Designed to encourage people to grow their savings tax-free over the medium-long term, this new Cash ISA allows up to three withdrawals within 12 months from the account opening date without compromising the attractive interest rate., March 2023: The fintech formerly known as Transferwise is continuing its evolution as it rolled out its rebrand. Wise's new look, which comes as it hits 16 million customers worldwide, was created to reflect its global reach, drawing inspiration from the currencies, languages, and places it serves worldwide. With around six million active customers moving a massive EUR 100 Billion (USD 107.17 Billion) annually, the company is onboarding 100,000 new users every week as it works on its mission to make a move “move faster, more conveniently, and eventually free.". Key drivers for this market are: Government Support is Driving the Market, Strong Financial Ecosystem is Driving the Market. Potential restraints include: Government Support is Driving the Market, Strong Financial Ecosystem is Driving the Market. Notable trends are: Rising Payments and Digital Banking in the United Kingdom.

Discover the booming UK pension fund market! Projected at £4.25 billion in 2025 and growing at a CAGR of 4.22%, this report analyzes market drivers, trends, and key players like USS, NatWest, and Lloyds Bank. Learn about investment strategies and regulatory impacts shaping this dynamic sector. Key drivers for this market are: Shift to Capital Light Products from Traditional Products, A Push for Technology-Led Engagement. Potential restraints include: Shift to Capital Light Products from Traditional Products, A Push for Technology-Led Engagement. Notable trends are: Ageing population rate in United Kingdom affecting United Kingdom Pension Funds Market.

The European neobanking market is booming, projected to reach €X million by 2033 with a 21% CAGR. This report analyzes key drivers, trends, and challenges impacting leading neobanks like Revolut and Monzo across major European countries. Discover market segmentation, competitive landscape, and future growth predictions. Recent developments include: In March 2022, Nordic neobank Lunar raises USD 77 Million at a USD 2 Billion valuation, and launches a crypto trading platform and B2B payments for its small and medium business customers. It has now raised EUR 345 million in total, with other past investors including Seed Capital, Greyhound Capital, Socii Capital and Chr. Augustinus Fabrikker., In October 2021 N26 announces a landmark Series E funding round of more than $900 million was led by Third Point Ventures and Coatue Management and joined by Dragoneer Investment Group as well as existing N26 investors. Notable trends are: Increasing user penetration of Neobanking Apps.

The benchmark interest rate in the United Kingdom was last recorded at 4 percent. This dataset provides - United Kingdom Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Over the five years through 2025-26, UK banks' revenue is expected to climb at a compound annual rate of 4.8% to £136 billion, including an anticipated hike of 3.6% in 2025-26. After the financial crisis in 2007-08, low interest rates limited banks' interest in loans, hitting income. At the same time, a stricter regulatory environment, including increased capital requirements introduced under the Basel III banking reforms and ring-fencing regulations, constricted lending activity. To protect their profitability, banks like Lloyds have shut the doors of many branches and made substantial job cuts. Following the COVID-19 outbreak, the Bank of England adopted an aggressive tightening of monetary policy, hiking interest rates to rein in spiralling inflation. The higher base rate environment lifted borrowing costs, driving interest income for banks, which reported skyrocketing profit in 2023-24. Although profit grew markedly, pressure to pass on higher rates to savers and fierce competition weighed on revenue growth at the tail end of the year. However, the prospect of rate cuts in 2024-25 saw many banks lower their savings rates, aiding revenue growth. In 2025-26, although further interest rate cuts are on the horizon, revenue is set to grow, due to lower borrowing costs driving activity in the housing market. Banks have also reduced their exposure to interest rate cuts through structural hedges, which lock in rates when they fluctuate. The FCA’s investigation into motor commissions has been a cause for concern over recent years, with banks like Lloyds and Santander ramping up provisions over 2024-25 in preparation for large payouts, if the Supreme Court deems banks were carrying out illegal activities. Over the five years through 2030-31, industry revenue is forecast to swell at a compound annual rate of 4% to reach £165.8 billion. Regulatory restrictions, tougher stress tests and stringent lending criteria will also hamper revenue growth. Competition is set to remain fierce – both internally from lenders that deliver their services exclusively via digital channels and externally from alternative finance providers, like peer-to-peer lending platforms. The possibility of legislation like the Edinburgh reforms will drive investment and lending activity in the coming years, if introduced. However, concerns surrounding the repercussions of less stringent capital requirements and the already fragile nature of the UK financial system pose doubt as to whether any significant changes will be made.

The European Challenger Banks Market is segmented by services offered (Payments, Savings Products, Current Account, Consumers Credits, Loans and Others), By end-user type (Business Segment and Personal Segment) and By Geography (UK, Germany, France, Italy, Spain, Netherlands, and Rest of Europe). The Market Size and Forecasts Are Provided in Terms of Value (USD Million) for All the Above Segments.

UK E-Brokerage Market size was valued at USD 688.12 Million in 2024 and is projected to reach USD 860.12 Million by 2032, growing at a CAGR of 2.78% from 2026 to 2032. Key Market Drivers:Adoption of Mobile Trading Platforms: The adoption of mobile trading platforms is rising steadily across the UK. These platforms are expected to continue expanding as retail investors seek flexible, on-the-go solutions for managing their investments. According to the FCA's Financial Lives 2022 survey, 53% of UK adults (approximately 28.1 million people) now use their smartphones for financial activities, with investment app usage increasing by 129% between 2019 and 2022.Rise of Retail Investors During COVID-19: The COVID-19 pandemic created a perfect storm for retail investor participation in financial markets. Lockdowns, increased savings, and interest in alternative income sources drove unprecedented numbers of first-time investors to e-brokerage platforms. Research by Barclays Corporate Banking showed that 76% of new investors who started during the pandemic period (2020-2021) continued to actively trade through 2023.