Banking Apps Rank Higher Than Branches for UK Consumers
Fair Isaac Corproation (FICO)
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Source: Business Wire
New FICO research finds that consumer preferences are switching from branches to apps, requiring a shift in the customer experience LONDON--(BUSINESS WIRE)--According to new research1 by global analytics software leader FICO, the habits, behaviours and preferences of British consumers are changing when it comes to bank accounts. While branch closures continue to attract negative media headlines, three quarters of British consumers surveyed said they see their banking app as the most important or second most important factor about their primary bank account, compared to just 33% citing the need for a local branch as most important. With most consumers (81.5%) still receiving their banking services from a traditional bank, versus 12% using a digital bank, understanding this shift in behaviour is critical.Published in an ebook, free to download from the FICO website, the research highlights the critical balance between digital and human interaction for bank account holders. While apps
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