Many commentators argue that customers’ adoption of technology creates a clear opportunity for new “digital only” challengers to enter the market, with a reduced need for personal interaction with customers through channels such as the branch and contact centres.
However, a consumer survey Egremont recently undertook with YouGov shows this wouldn’t be so straightforward. The online survey highlighted that banks continue to benefit from a high level of customer loyalty across every age group and that there is still a demand for personal interaction with their bank, not just through technology platforms.
