Most consumers use banking for simple transactions

Thursday 30 April 2015 00:32 CET | News

Most consumers define their banking relationship by simple transactions like paying bills and receiving current-account statements, a recent study shows.

According to a survey conducted by Accenture’s North America Banking practice, consumers are interested in several value-added services provided by banks, including: discounts for purchases (54%); proactive bill-pay services (53%); product recommendations (52%); end-to-end assistance with car buying, such as help with negotiating a loan and providing vehicle recommendations (49%); and buying a home (46%).

With regards to consumers aged 18-34 years old, the survey found that two-thirds (67%) of them said that the traditional and digital banking experience they receive at their current bank is only somewhat or not at all seamless, and nearly half (47%) said they would like their bank to provide tools and services to help them create and monitor their budget. Nearly half (48%) also said they would like their banks to offer video chat on their website or mobile/tablet application, compared to only 30% over 55.

Findings also indicate that consumer relationships with local bank branches are changing. An overwhelming majority (81%) of consumers said they would not switch banks if their local branch closed - a significant increase from the 52% of respondents in last years sample who said they would be unlikely to switch banks if their branch closed.

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Keywords: online banking, e-payments, ecommerce, transactions, Accenture, bills
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
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Banking & Fintech

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