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Source: Competition and Markets Authority 2015. * Numbers may not add up to 100 per cent due to rounding. Source: Compet
DIGITAL LENDERS FREQUENCY OF CURRENT ACCOUNT SERVICES BY CHANNEL

BANKING MILESTONES REACHED

Survey of global retail banks

HOW OFTEN UK CURRENT ACCOUNT HOLDERS USE THE FOLLOWING FEATURES WITH THEIR BANK Every day

Once a week or more

Two to three times a month

Once every two to three months

Once a month

Once or twice a year

Set up a digital banking platform

Less often

59% Integration of a digital banking solution with existing infrastructure

55%

30%

44%

9%

8%

3%

2%

4%

Launched a mobile payments service

44% Co-operation with fintechs or complementary providers

36%

APP

Modernised the branch experience (interactive personalisation)

16%

50%

17%

10%

4%

1%

2%

32% Launched a personal finance management offering

29% Implemented a real-time decisions solution

INTERNET

16% Source: GFT 2015

1%

9%

8%

22%

17%

15%

27%

BUSINESS DRIVERS FOR DIGITAL BANKING STRATEGY (%) Survey of global retail banks

TELEPHONE

Important

Somewhat important

Relatively unimportant

0%

10%

11%

21%

20%

27%

10%

BRANCH * Numbers may not add up to 100 per cent due to rounding

Source: Competition and Markets Authority 2015

Neutral

Unimportant

A

Increase customer satisfaction

D

Gain competitive advantage

B

Increase customer loyalty/reduce churn

E

Increase revenue growth

C

Increase profitability

100

100

SATISFACTION WITH CURRENT ACCOUNT SERVICES Very satisfied

APP INTERNET TELEPHONE BRANCH

Fairly satisfied

Neither

Fairly dissatisfied

Very dissatisfied

Don't know/have/use

2% 3%

2% 57%

24%

69%

12% 1% 4%

22%

42%

32%

51%

19% 34%

6%

80

80

60

60

1% 3%

2% 4%

1%

3% 5%

1%

Source: Competition and Markets Authority 2015

HOW MOBILE BANKING HAS CHANGED THE WAY CUSTOMERS MANAGE THEIR FINANCES

56%

26%

23%

21%

16%

13%

4%

I AM MORE IN CONTROL OF MY FINANCES

NOTHING HAS CHANGED

I PAY MY BILLS ON TIME MORE OFTEN

I USE INTERNET BANKING MUCH LESS

I AM SAVING MORE

I AM OVERDRAWN LESS OFTEN

THE WAY I MANAGE MY MONEY HAS GOT WORSE

Source: Competition and Markets Authority 2015

40

40

20

20

0

0

A

B

C

D

E Source: GFT 2015