18 December 2017
visit www.aciworldwide.com

Banking technology fails to touch consumers

27 November 2000  |  2235 views  |  0 user man and child and PC

Barely one in four consumers find technology an acceptable substitute for personal service in banking, according to a new piece of research conducted among UK banking customers by TCA Consulting.

While 51 per cent of respondents accept that technology will eventually become advanced enough to satisfactorily manage their banking needs, few believe that technology can ever be more effective than bank staff in handling personal finances.

"These results indicate that many consumers still have certain reservations about online banking - particularly revolving around a lack of personal service and perceived gaps in security," says Mark Reeves of TCA Consulting.

The TCA survey was conducted over a four day period in late October among a sample of 960 UK adults. Among Internet users, more than half indicate that they would be happy to manage their current and savings accounts on the Net in future, and 47% say they would be prepared to use a single Web site to manage all of their finances.

Interest in other online services among Net users is similarly high: 32% state that they would consider managing their mortgages online, 43% their credit cards and 30% their pensions. A desire to access other financial services also scores highly - more than a third of the sample would be happy to peruse life assurance via the Web, while 44% would turn to the Internet for their general insurance requirements.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BMO implements online chat for Web users

BMO implements online chat for Web users

23 November 2000  |  6396 views  |  0 comments
UK bank Web sites failing to deliver

UK bank Web sites failing to deliver

15 November 2000  |  3004 views  |  0 comments
UK banks are failing to live up to e-business hype

UK banks are failing to live up to e-business hype

15 November 2000  |  2458 views  |  0 comments
KeyCorp adds personal touch to Web banking

KeyCorp adds personal touch to Web banking

01 November 2000  |  3173 views  |  0 comments
Online customers cut out traditional channels

Online customers cut out traditional channels

19 October 2000  |  2312 views  |  0 comments
Internet banking pioneer opens first branch

Internet banking pioneer opens first branch

18 October 2000  |  2851 views  |  0 comments
UK mobile banking fails to pass user test

UK mobile banking fails to pass user test

29 September 2000  |  3637 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comvisit www.niceactimize.comvisit www.ebaday.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11161 views comments | 3 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
9825 views comments | 20 tweets | 21 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7704 views comments | 19 tweets | 22 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7306 views comments | 6 tweets | 26 linkedin
Digital banking startup Loot secures £2.2 million seed roundDigital banking startup Loot secures £...
7252 views comments | 5 tweets | 11 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job