Digital Switching Experience Driving Record Account Growth
Permanent TSB partnered with Ideas + Outcomes to design and deliver a digital switching experience that helped over one million Irish banking customers move accounts with clarity and confidence, resulting in a 230% increase in current account openings and majority in-app adoption.
THE PROBLEM
Two major banks exited the Irish market, forcing over one million customers to find a new provider.
Most customers had never switched banks before. Many had long-standing relationships and low trust in the sector. Switching was seen as complex, risky, and unclear. Even digitally capable users lacked confidence in timelines, requirements, and outcomes.
Permanent TSB needed to:
Reassure customers of stability and long-term commitment
Remove confusion from the switching process
Support both digital and non-digital users
Manage a sudden increase in demand without degrading experience
Convert interest into completed account openings
Failure would result in lost market share and reduced customer trust.
THE IDEA
Focus on confidence, not conversion.
Research showed that customers were not primarily choosing between banks. They were trying to reduce risk.
Three decisions shaped the approach:
Make switching feel predictable and safe through clear, step-by-step guidance
Prioritise full relationship switching to avoid fragmented journeys
Design the app experience as the primary conversion channel
The experience was built around removing uncertainty at every step.
This meant clear timelines, transparent expectations, and immediate access to support when needed.
THE OUTCOME
A structured digital ecosystem that supported customers end to end.
Key elements included:
A central switching hub with clear navigation and guidance
Step-by-step switching journeys explaining each stage
A multi-product switching tool to reduce friction
Embedded support through FAQs, contact options, and escalation routes
Continuous optimisation through testing and behavioural data
The experience was designed for scale and used across digital and offline channels.
Measured impact:
230% increase in current account openings
70% of new accounts opened in-app, exceeding the 50% target
81,100 hub visits in the first month
19,800 assisted conversions in month one
117% increase in hub traffic within six weeks
The bank handled a surge in demand while maintaining a consistent customer experience.
Permanent TSB used a moment of market disruption to build long-term customer relationships.
The experience reduced switching anxiety, improved digital adoption, and created a scalable model for future growth and product development.
FAQs
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Why was switching such a barrier for customers?
Most customers had never switched banks before and did not understand the process. Unclear timelines and perceived risk made switching feel complex and unsafe.
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How did the experience increase conversion rates?
The experience removed uncertainty through clear steps, transparent timelines, and immediate access to support, which reduced drop-off and improved completion rates.
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Why was in-app switching prioritised?
Customers were already comparing banks through apps. Making the app the primary switching channel reduced friction and enabled faster account opening.
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Did the solution support non-digital customers?
Yes. Customers could access support through phone, branch appointments, and guided journeys, ensuring all user types were supported.
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How quickly was the solution delivered?
The initial experience was designed and launched within eight weeks to align with the timing of bank exits.
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Can this model be reused in other markets?
Yes. The structure, content, and switching tools are adaptable for other financial services products, regulatory changes, or acquisition campaigns.