Research reveals what UK consumers want from banking sector

A new online global survey from ACI Worldwide and YouGov has revealed the services UK consumers want from their banks.

The research surveyed more than 9,000 consumers in the US and Europe. It found consumers worldwide expect their bank to provide new and innovative services.

Willing

The research found that consumers are willing to share their data. This comes as new regulation will enable new financial services providers to access the banking details of customers with their permission. This is to be put into place in January 2018.

Under the new regulation, banks are also expected to offer consumers new services to help them to save money, seek out better deals, and better manage finances.

Many consumers would like to see better security and prevention of fraud at 38 per cent and real-time banking services at 36 per cent.

UK consumers also want to have more control over their banking services, with this being cited by 25 per cent of respondents.

Enhance

Commenting on the research, ACI Worldwide Practice Lead EMEA, Retail Banking and Consumer Payments Lu Zurawski said: “The data suggests that we have reached a tipping point at the intersection of technology and financial services where the majority of consumers now trust technology enough that they want it to enhance their financial lives. This is great news for the banking industry as many banks and financial service providers have been leveraging these new technologies for some time.”