Customer Trust Could Be Lost So Banks Need To Focus On Digital Services

| February 13, 2013 | Reply
Banking District

Banking District (Photo credit: bsterling)

YouGov poll has indicated that a new generation of customers keen on supermarket financial services.

If banks fail to focus on delivering digital services to their customers, they risk losing out to a new breed of competition that is specifically a non-traditional financial services company and also supermarkets, a YouGov poll has shown.

This survey was commissioned by financial services software provider Intelligent Environments and surveyed of 2005 adults. It seems as though clients  between the age of 18 and 24 could switch to a totally new provider if their demands for online and mobile banking aren’t met.

The amount of respondents that are more likely to trust a bank for providing financial services is currently around 60 percent with just 3% having more faith in supermarkets such as Sainsbury’s or Tesco, as these companies now offer online and mobile banking services.

David Webber, MD of Intelligent Environments, commented that while customer loyalty to traditional banks remains strong, delivery of digital services will be “key to customer retention”.


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