The UK is in the midst of a technology-led banking revolution as Brits shun branches in favour of their mobile phones, figures from the British Bankers Association show.
Doubling of mobile banking transactions from last year is not hard to believe. However, is there evidence that "Brits shun branches" or is that assertion another proof of
Web - The Forgotten Channel?
Anecdotally and from personal experience, for the rare occasion that people wanted to / had to visit a branch five years ago, they still want to / have to visit a branch today. I strongly suspect that a vast majority of people who use mobile banking today
were using Phonebanking and / or NetBanking last year, not branch.
That said, branch banking customers can migrate directly to mobile banking - without going thru' Phone / Net Banking - if the next wave of mobile banking leverages superior smartphone specs and includes features (e.g. Mobile RDC) that pass muster with the
to £100K base, double OTELondon, UK
© Finextra Research 2016