Online banking, better customer service and an easier-to-use mobile app were the reasons behind a record number of current account switches in the UK last year.

In the final three-months of 2022, 376,000 people moved banking providers, many to digital banks or e-money institutions that offered more sophisticated digital features.

The data is further evidence that the consumer shift towards digitally native solutions is continuing, with businesses like Privat 3 at the forefront of the sort of innovation customers are craving.