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|NCR Research Highlights Consumer Desire for Innovative Banking Services in the UK|
A survey of more than 1,000
The research identified three key findings which highlight the growing consumer demand for personalized service that makes banking easier and more relevant. About half of the survey respondents (49 percent) were interested in banking loyalty programs in partnership with retailers requiring third-party data sharing. 46 percent were open to financial advice services that keep track of their spending information to help save money, while 39 percent would consider using a service prompting them when an important personal event, such as a loved one’s birthday or an anniversary, is approaching.
The survey also showed that security remains a trust factor between the consumer and their bank. It needs to be not only robust but also a seamless part of the consumer-bank interaction. More than half of respondents (58 percent) would be interested in using biometric authentication methods like fingerprint, iris, or voice authentication. For 52 percent of them the primary appeal is that they feel it would make banking more secure. But the interfaces used to connect these to the banking environment come from third parties. Most strikingly, a third of respondents (33 percent) explicitly stated they either currently conduct banking transactions using a digital personal assistant like Amazon’s Alexa or Apple’s Siri, or would like to in future. The use of digital personal assistants could require hosting customer data on third-party infrastructure.
“As consumers increasingly look beyond traditional banking services, it
is important for banks to reassure consumers that their personal data
will be protected and safe,” said
NCR works with banks on a daily basis to help them provide seamless omni-channel services that put customers at the heart of the banking experience by bringing together the various processes involved in acquiring, authorizing and routing payments, enabling them to quickly introduce new services with the highest security standards.
[i] Survey of 1,013 adults, 16+, conducted by
NCR Public Relations