Digital Disruption in Global Banking Sector Continues to Increase, Survey by ACI Worldwide and YouGov Reveals
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Asked which three services they want most from their current account providers:
-more than half of
-30% of respondents in
-25% of
The majority of
"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.
"However, the research also shows that a lot of work still needs to be done to educate consumers about how to take advantage of the new financial service offerings—and provide assurances that their personal information is safe. Raising consumer awareness about the challenges and opportunities of this ‘brave new world' will be crucial to its success."
Other key findings:
- Switching account providers: In
Italy , almost half of consumers (47%) plan to switch account providers in the next 12 months, inFrance 34 percent and inSpain 39 percent. In theU.S. ,U.K. andGermany , consumers seem happier with their current account provider, with the majority not planning to switch (65%, 78% and 64% respectively). - Banking Annoyances: Credit and debit card fees, as well as fees for various banking services, are the biggest annoyance for consumers
worldwide (
U.S. 34%,France 52% andHungary 53%). - Real-time payments schemes in the
U.S. andEurope : Awareness among the real-time payments schemes to be launched in theU.S. andEurope is relatively low in all countries. 80 percent of consumers inFrance and 88 percent of consumers inGermany for example, are not aware of the Pan-European Real-Time Payments Scheme which will be launched in November. And 81 percent ofU.S. consumers have not heard about The Clearing House real-time scheme that will come into effect in the US at the end of this year.
-ends-
Methodology and Demographics: All figures, unless otherwise stated, are from
2017 is a crucial year for immediate payments with both the pan-European SEPA Instant Credit Transfer Scheme (SCT Inst) and TCH Real-time Payments in the US going live this year. The new schemes will not only empower consumers and businesses to send and receive real-time payments from their existing accounts, but will also provide a platform for banks to launch new and innovative services built around a real-time payments hub for today's and tomorrow's digital economy. (link to landing page)
ACI's UP Immediate Payments offers a proven solution for financial institutions to provide connectivity to IP schemes globally. We not only provide our customers with a technical gateway, but also payment processing functionality, guidance on compliance, fraud, scheme rules, testing and certification, as well as support throughout the complex on-boarding process.
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6e9588ec-d725-44dd-b980-c152feabcfef
Source:Andrea Snyder ACI Worldwide 6466754451 andrea.snyder@aciworldwide.comKatrin Boettger ACI Worldwide 00447776147910 katrin.boettger@aciworldwide.com
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