Innoscore Private Banking Study 2025

Digital excellence – dialogue flop

Anyone who still believes private banking is an exclusive club with thick carpets and discreet conversations behind closed doors should take a look at the new Innoscore Private Banking Study 2025. Europe’s largest study on the digital customer experience in private banking shows: even in the high-end financial segment, the first point of contact now usually happens via smartphone.

At the same time, the study reveals that the expansion of digital services often does not go hand in hand with a corresponding quality of customer dialogue—especially where ongoing relationship management is required.

Or, as study author Chris Berger, Head of AOE FinTech, puts it:

“The industry is investing heavily in digital customer acquisition, but too little in responding to customer feedback. That can be costly—because customer churn is rising.”

Digital highlights with downsides

The results read like a lesson in digital ambivalence: on average, digital customer experience scores increased by four percent—thanks to better usability and app quality. At the same time, the quality of omnichannel customer dialogue is declining. Many institutions respond less often to reviews or rely on standardized texts that hardly sound appreciative.

In short: new customers are warmly welcomed—while existing ones are left on hold.

The top performers: HAL ahead of DBS and UBS

For the first time, Hauck Aufhäuser Lampe Privatbank AG (HAL) takes the top spot—closely followed by DBS Singapore and UBS. Five German institutions made it into the top 10, including BW Bank, Unicredit, Quirin Privatbank, and Commerzbank.

HAL in particular stands out with excellent usability and strong omnichannel communication—a prime example that digitalization and personal care don’t have to be opposites.

AI and accessibility – two sides of the same coin

While some institutions are using AI-based tools for wealth planning (such as Quirin Privatbank), others are making progress in accessibility. The new Accessibility Strengthening Act (BFSG), which became binding on June 28, is driving change across the industry—from contrast modes to read-aloud functions. Since June, failure to comply no longer just means reputational loss, but also poses a concrete compliance risk—including fines and regulatory consequences.

From optional to mandatory: digital excellence as a trust anchor

“Digital trust is the new gold in private banking,” says Chris Berger.

And this trust arises not only through smart technology, but also through dialogue, transparency, and accessibility.

The Innoscore results make it clear: to succeed in the future, institutions must create customer experiences that are as exclusive as they are empathetic—both online and offline. Europe’s private banks have realized that digital excellence is no longer a “nice to have,” but must become part of their DNA. True digital maturity, however, is not measured by the number of clicks—but by the quality of conversations, even when they happen digitally.

About Innoscore

The Innoscore evolved from the Finnoscore—the internationally recognized benchmarking methodology for banks and insurers. Initiated by Finnoconsult (part of the AOE Group), the model evaluates more than 300 individual criteria to assess the digital customer experience along the entire customer journey—from website usability and onboarding to omnichannel communication, mobile apps, and sustainability aspects.

In private banking, the Innoscore enables an objective comparison of digital maturity levels and shows how consistently institutions combine digital excellence with personal advice. The annual results not only provide a precise industry benchmark but also deliver concrete insights for strategic development and investment decisions.