Summary List Placement
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The following is a preview of one Banking report, the The UK Banking Channel Forecast. You can purchase this report here.
The UK banking space is experiencing a push toward digital channels — driven by branch closures, consumer preference for digital, declines in cash usage, and changes brought about by the coronavirus pandemic.
The pandemic is accelerating existing usage trends — like lowered cash usage — in some channels while highlighting the need for digitization in other areas. And the magnitude of the coronavirus pandemic is going to impact the lasting effects it has on changes in banking channels: If it takes a moderate course and the UK economy fully reopens within the coming months, shifts will be less significant than if the pandemic takes a severe course, where persistent public health threats due to the coronavirus will keep branches closed for an extended period.
Banks are being forced to reevaluate their investments in different banking channels as consumers gravitate toward digital. Shifts in penetration for branches, digital banking, smartphone banking, ATMs, and call centers provide a …read more
Source:: Businessinsider – Finance