Mastercard has conducted research on people, including older generations, flocking to mobile and online banking amidst the COVID-19 pandemic.
The paper shows that people in the UK are now more likely to have a banking app than a social media app on their mobile phone, according to thepaypers.com. Almost three in five (59%) Brits say they have a mobile banking app, compared to half (50%) who have social media apps.
This trend is most pronounced in the over 65s with 44% saying they have a mobile banking app, compared to the 27% who have a social media app. Mastercard’s findings reveal that with lockdown making it harder to get to the shops, Post Offices, or local bank branches, 30% of people are using banking apps more.
Half (52%) of over 65-year-olds in the UK have used banking apps during the pandemic, with 21% using them more and 23% saying that they are now more confident when using the technology. Six in ten (58%) found it has been easier to use their banking app than they first thought it would be and, interestingly, 100% of users said that they will continue to use their banking apps when life returns to a more normal footing as well.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
