According to the survey, the impact of this problem led to 68 percent of British consumers admitting that economic uncertainty has seen them reconsider how and where they save money. However, the research has also revealed how relationships between consumers and their banks can be improved, with 75 percent stating improved communications, whether through bank staff or technology as the answer.
Moreover, the report has found that despite certain technologies such as self-service becoming a staple of branch banking, some customer education is still needed with regards to more innovative services if they are to realise the potential benefits. For example, while the majority of British consumers are comfortable using self-service kiosks to take out cash, over half do not yet feel as comfortable using the machines to pay in. Many consumers also admit they are suspicious of the industry’s intentions in adopting such services. 58 percent believe that technology innovations such as mobile banking are simply a driver to cut staff numbers and costs, with only 22 percent believing the aim is to improve service to customers.
Finally, the study has revealed concern amongst British consumers around the continued boom of mobile banking, with 72 percent of consumers believing such services to be insecure and unsafe.
The survey was commissioned by German provider of retail banking hardware, software and services Wincor Nixdorf and conducted by independent research company TNS Omnibus.
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