youbiquity finance - retail banking
TRANSCRIPT
47%Aged 16 - 24
66%UK 45%
36%Germany 2016
11%Germany 2012
66%55+
64%GERMANY 2016
59%GERMANY 2016
I feel comfortable making all my own decisions about financial service products (eg investments, pensions, banking and insurance). Wouldn’t need to make an appointment.
Want Smartphone banking Apps which make it easy to e-mail, chat or call staff.
56%25 - 34
53%35 - 44
63%45 - 54
Youbiquity Finance - Retail Banking.Consumers want banks to make digital self-service easier, using support technologiesthat build customer confidence and better relationships.
Customers need support for digital self-service - many interactions are failing.
Consumers want to be served faster - they currently expect to wait too long.
Banks need to build better digital relationships withconsumers to drive sales while reducing costs.
I have a strong relationship with my bank.
I expect I will probably have to wait too long.
Common problems with digital self-service.
Would like instant update from your bank (by text, phone, push notification or e-mail) when tie-in period is coming to an end.
40% small print is unclear.
29% questions about the quote.
23% online process too complicated.
22% took too long to complete.
20% can’t use the ‘back’ button.
20% information incomplete.
Consumers trying to use digital self-service for complicated interactions.
...but these often fail.
When you are on a bank’s web-site, if you need help, how interested would you be in the following?
Phone E-mail Branch Web-chat
WWW
increase in UK consumers saying my bank puts customers at the heart of their business (19% 2014 to 33% in 2016).
definitely want more staff to
provide advice on banking
and insurance products.
51%35%UK 2016
29%UK 2014
40%SPAIN 2016
43%SPAIN 2014
I would consider buying insurance and pension products from my bank.
It’s difficult to get independent advice you can trust about financial services.
41% Germany
41% Germany
35% Spain
61% Spain
45% UK
47% UK
Process of opening accounts inbanking and insurance takes too long.
want the phone answeredwithin 30 seconds.
want 24-hour contact centres.
would like to be able to book appointments with advisors online.
like the idea of video-chat as it means they wouldn’t have to make an appointment.
Advantages of video conferencing with financial service providers (Definitely or possibly).
2014
2016
81%Spain 74%
62%Germany
expect a web-chat conversationto start straight away.
Want full resolution within three hours for:
an email.
an online form.
a tweet or Facebook post.
To queue for the
cashier at lunchtime.
To speak to someone
who knows about your
issue.
44% Germany 53% Spain 40% UK
3 in 4
75%75%66%
2 in 3
63%62%57%
74%
make appointment
change policy or account
make complaint 85% 83%85% 62%
28% 41% 52%
29%
30%
43%
42%
45%
38%
Would like voice biometrics which identifies you when you call bank or insurance company.
The adviser would be more engaged in our conversation.
Want video chat option when on financial providers’ websites.
71%UK 2016
64%Germany
40%UK 2016
65%Spain 2016
63%UK 2014
77%SPAIN 2016
55%UK
9%UK 2012
15%Spain 2012
73%SPAIN 2014
46%Spain
201672%
201222%
201678%
201222%
201670%
201215%
Spain
74%UK
71%Germany62%
48%GERMANY 2016
16%GERMANY 2012
Want web-chat option when on financial providers’ website.
66%UK 2016
31%UK 2014
72%SPAIN 2016
59%SPAIN 2014
Source: BT/Avaya 2016Note: Data based on an independent survey of 3,000 consumers by Davies Hickman Partners Ltd.