A survey carried out by Intelligent Environments shows that a third of people expect there to be more digital-only accounts in the UK than traditional accounts within five years. 60% of Brits said digital banking services are very important to them.
Findings unveil that digital-only is too different for many, with 52% disliking being unable to speak to someone in person if they have a problem and 44% not wanting to switch because in-branch services are important to them.
The research found that 14% of Brits would trust a digital-only bank more than a traditional bank and 16% believe digital-only banks will have fewer security problems than their traditional counterparts.
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