A Modularbank study has found that for over 90% of UK consumers a strong technology is important to them when choosing who to bank with, according to thepaypers.com.
In fact, based on a survey of 2,000 UK consumers, this factor was cited more than any other as being an important factor in making this decision – more so even than interest rates, which 88% of consumers cited as being important in their decision.
Technology also beat out ‘brand of the bank’ and ‘personal in-branch relationships with banking staff’ when it comes to what is important to consumers in choosing where to bank, with only 68% and 47% of people respectively claiming that these attributes were important to them.
On a scale of 1-10 (with 1 being unimportant, and 10 being extremely important), 80% of consumers voted six or above when asked how important technology and a digital offering are in banking today. A further 53% claimed that they would be happy if they never had to visit their banking branch in-person again to complete a transaction.
A customer perceives banking as seamless when they are able to complete financial services without challenges or hurdles – 54% of UK consumers believe seamless banking is when they can complete transactions online without having to go to a branch, whilst 56% state that fast and efficient transactions constitute a seamless experience.
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:
