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  • Which services can banks promote to entice customers to switch?
  • Which services can banks promote to entice customers to switch?
    Steve Braund (2014) ©
REPORT

Which bank services will make you switch?

With UK consumer confidence increasing, competition among banks is stronger than ever. Austerity has left consumers cautious, while 24/7 banking has given more access and control over personal finance. But what do people want, and how can banks entice them to switch?

Location United Kingdom

Scope
Online and mobile banking have undoubtedly revolutionised the way consumers access their money. Monthly bank statements are almost a thing of the past, with three fifths of consumers now checking their accounts online every day. [1] Mobile banking is pushing this even further – over 75% of 18- to 24-year-olds already use it, and the majority of consumers are predicted to follow by 2018. [2][3]

This development means that consumers aren’t just better connected with their bank but better informed as to their finances. Accordingly, as their finances improve, ...

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