Written by Jake Sandford, Head of Data and Analytics at Smart Money People
April brought a wave of optimism to the financial services sector, as customer sentiment reached new heights in 2025. With improvements across every major metric, the data signals a confident and increasingly satisfied customer base. However, beneath this strong headline performance, subtle signs suggest that certain segments may be approaching a plateau.
An all-time high for satisfaction and loyalty
Customer sentiment reached a peak in April, with the average overall rating climbing to an impressive 4.95 out of 5 – the highest recorded this year. The Net Promoter Score (NPS) also surged to +94.1, reflecting an exceptionally loyal customer base and the strength of brand advocacy across the sector.
Two core dimensions of satisfaction, customer service and value for money, rose to 4.87 and 4.82 respectively – clear indicators that providers are continuing to deliver where it counts. Meanwhile, perceived fairness (98.57%) and product understanding (96.77%) also edged higher, suggesting that transparency and clarity are increasingly resonating with customers.
Segment-level insights: Steady gains, subtle shifts
The picture becomes more nuanced when digging into the performance of specific product areas.
Financial support services continued to perform strongly, but marginal declines in NPS and fairness scores compared to March hint at the possibility of an early plateau. Given the highs reached in the first quarter, this may simply be a recalibration – but it warrants close monitoring.
Investments, typically buoyed by seasonal ISA activity in March, saw a minor dip in April. This likely reflects the natural ebb following the tax-year-end rush, rather than a deeper trend.
Business banking and credit cards delivered steady, respectable results. Though not leading the pack, their consistency indicates a solid foundation that could be built upon with targeted improvements.
Insurance, however, remains the sector’s most pressing challenge. It continues to underperform, particularly in perceived fairness (76.49%) and value for money (4.06/5). These figures are notably below the industry average, raising concerns about trust and perceived value in an increasingly competitive landscape.
Summary
The financial services industry can take encouragement from April’s impressive satisfaction and loyalty scores. Consumers are broadly feeling well-served, and their increased willingness to recommend providers is a strong testament to progress being made.
Yet, the data also serves as a timely reminder: sustaining high levels of customer satisfaction requires continued focus and agility. While many areas are thriving, early signals of softening momentum – especially in support services and investments – suggest that the coming months will be critical for maintaining the trust and goodwill that has been hard-won.
As the market continues to evolve, especially amid regulatory scrutiny and shifting customer expectations, providers who stay ahead of the curve on fairness, clarity, and value will be the ones to watch.
