Customer experience (CX) benchmarks of India’s top 6 neobanks in 2022

Summary

This report provides a comprehensive benchmarking of customer experience (CX) across India’s top six neobanks in 2022. Focusing on the rapidly evolving neobanking sector, the analysis explores how digital-only banks are redefining retail banking through mobile-first platforms, seamless onboarding, and hyper-personalised services. The report is structured around four key CX pillars: speed and simplicity, customer onboarding, digital experience, and customer engagement. It details the methodology used, including real account openings and a seven-point framework with sixteen sub-parameters, to assess each neobank’s performance in areas such as app usability, KYC processes, account activation, debit card features, user interface design, and customer support. Key questions addressed include: What are the critical expectations of Indian digital banking customers? How do leading neobanks compare in terms of onboarding speed, app design, and support channels? What best practices are emerging for frictionless account opening and secure digital transactions? The report is essential reading for executives and product leaders in banking and fintech seeking to understand the standards for exceptional customer experience in India’s neobanking landscape, and to identify the features and processes that set top performers apart.