First Direct Company Analysis
The goal is to inform a team about First Direct by providing information on the company, their marketing, financials, and competitors, as well as a sector overview of the mobile banking market.
- First Direct offers bank accounts, mortgages, loans, and insurance.
- There is not an annual report directly for First Direct, but financial information is grouped in the HSBC Bank annual report.
- In March 2019, First Direct launched a customer co-creation feature in its app. This allows customers to test out prototype app features and give feedback on ideas.
- In January 2019, First Direct added payment support for social media apps such as WhatsApp and Facebook Messenger, allowing their customers to make payments through these sites directly.
- In the UK, 71% of banking customers are expected to use mobile apps for banking by 2024.
- Mobile-only banks have become more popular in the UK, with new companies such as Monzo and Starling offering banking services.
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