A new report published July 7 by the British Bankers Association and EY, “The Way We Bank Now,” shares how the ongoing digital banking transformation, growing consumer adoption of technology, and competition among banks is delivering significant improvements in the United Kingdom.
Some highlights from this report:
- Customers want multi-channel banking. People want options when they communicate with their bank, and their preferred interaction channel can vary by type of transaction and customer segment—even during the same day.
- The branch remains integral to banking in the 21st century. Although the size of branch networks is expected to continue to decline, those that remain will be essential for more important or complex needs such as getting a mortgage, investment advice, or resolving a complaint. And, banks are committed to their branches, refurbishing 2,274 of them in the past two years alone.