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This is a preview of Insider Intelligence’s second annual  UK Mobile Banking Competitive Edge Study, available exclusively to enterprise subscribers.
In addition to mobile banking coverage, Insider Intelligence publishes thousands of research reports, charts, and forecasts on the Banking industry. You can learn more about becoming a client here.

The UK’s top banks are in a fierce battle to offer the most innovative mobile banking features to current and prospective clients, as the coronavirus pandemic has shifted more customers online.

In Insider Intelligence’s second annual UK Mobile Banking Competitive Edge Study, exclusive data shows that 68% of all UK respondents surveyed use mobile banking. Of those that use mobile banking, 86% said mobile was their primary banking channel and 62% said they would even change banks if the mobile banking experience fell short.

UK banks are cognizant of this large base of mobile-oriented customers and are expected to spend a staggering £14 billion ($17.5 billion) on technology in 2020. For example, in its latest annual report, NatWest Group spoke of its continued investment on mobile and online channels as part of its digital-first strategy, and said this includes “releasing new mobile app features to help customers …read more

Source:: Businessinsider – Finance


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