IF survey supports integrated banking ideal

IF survey supports integrated banking ideal

A new survey by ICM Research, for Halifax online banking subsidiary Intelligent Finance, indicates that 21 million UK consumers would consider a move to banks offering customers the ability to offset their balances for interest calculation purposes.

Results of the survey show seven out of ten of all adults would prefer an integrated banking offer that allows them to keep their various accounts separate but still enjoy the interest advantages of integrated banking.

Interest in integrated banking appears particularly strong amongst 18-34 year olds, with six out of ten saying they would be interested in such a service.

Jim Spowart, chief executive, Intelligent Finance, comments: "This survey underlines why I believe integrated banking is set to dominate the UK banking market in the years ahead...Providers will have to recognise that consumers want a flexible integrated banking offer and not a ‘one-pot shop’ or a deal that comes with restrictions or tie-ins."

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