What We’re Seeing Across the Sector in FY25
JULY 2025 | A look at key trends and engagement shifts across the mutual sector.
If you’ve felt like things are shifting in your customer base, you’re not imagining it. This past year, the data told a story of subtle changes, strong engagement, and a few signs worth watching.
Let’s start with the big one: Engagement. Average engagement levels climbed by 1.3%, reaching 6.20 for the year. It’s a sign that customers are actively engaging with their bank.
At the same time, Customer Value surged. We’re talking a 15.6% lift - from $821 to $949. That kind of growth suggests customers aren’t just engaging - they’re investing more in their banking relationships.
Of course, not everything was heading up. Customer numbers dipped slightly, down -1.3%. But what really caught our attention was a noticeable drop in transactional behaviour. That shift prompted us to dig deeper: was this just a seasonal dip, or the start of something more?
To find out, we analysed customers who transacted in July 2024 and tracked their monthly activity right through to June 2025. Here’s what we found:
Overall transaction volumes are easing.
The biggest drops? Direct Credit, Visa Purchase, and Transfers.
ATM and branch usage continue to fall.
NPP, POS, BPAY, and Direct Debit are holding steady.
This might explain why engagement dipped in January and didn’t bounce back the way it usually does.
But it’s not all cause for concern. Customers who transact regularly are still half as likely to churn. That means small moments of engagement can still have a big impact!
On the product side, there’s stability with a few soft shifts:
26.4% of customers still anchor their relationship with a key product.
Mortgage ownership nudged up from 8.1% to 8.4%.
Personal credit and term deposits dipped slightly from 11.9% to 11.8%.
And behind the scenes, Spark’s Platform Service has been working overtime - enabling mutuals to stay timely and relevant at scale:
Every one of those touchpoints is a chance to strengthen a relationship, answer a need, or start a new conversation.With behaviours shifting, the opportunity lies in knowing when to show up - and with what message. In a year of subtle shifts and changing behaviours, it’s the timely, human touches that make all the difference.
Ready to make sense of these shifts?
Let’s talk about how Spark can help you turn insight into action.