NCR Research Highlights Consumer Desire for Innovative Banking Services in the UK
November 27 2017 - 8:00AM
Business Wire
New research from the global leader in omni-channel solutions,
NCR Corporation (NYSE: NCR), has revealed that despite the banking
industry’s efforts to embrace innovative, data-driven services, UK
consumers remain cautious about sharing their data. These findings
are particularly striking in the face of PSD2 (Second Payment
Services Directive), which will open up banks’ data and
infrastructure to a wider ecosystem.
A survey of more than 1,000 UK adults ages 16 and older[i] has
found that nearly half of respondents (47 percent) with personal
bank accounts would only feel comfortable with banks collecting the
bare minimum of data required to run their accounts. At the same
time, 91 percent of respondents agreed that banking services should
be innovative and modern, revealing a disconnect between consumers’
lack of trust in sharing data, and the desire for more innovative
services from their banks.
The research identified three key findings which highlight the
growing consumer demand for personalized service that makes banking
easier and more relevant. About half of the survey respondents (49
percent) were interested in banking loyalty programs in partnership
with retailers requiring third-party data sharing. 46 percent were
open to financial advice services that keep track of their spending
information to help save money, while 39 percent would consider
using a service prompting them when an important personal event,
such as a loved one’s birthday or an anniversary, is
approaching.
The survey also showed that security remains a trust factor
between the consumer and their bank. It needs to be not only robust
but also a seamless part of the consumer-bank interaction. More
than half of respondents (58 percent) would be interested in using
biometric authentication methods like fingerprint, iris, or voice
authentication. For 52 percent of them the primary appeal is that
they feel it would make banking more secure. But the interfaces
used to connect these to the banking environment come from third
parties. Most strikingly, a third of respondents (33 percent)
explicitly stated they either currently conduct banking
transactions using a digital personal assistant like Amazon’s Alexa
or Apple’s Siri, or would like to in future. The use of digital
personal assistants could require hosting customer data on
third-party infrastructure.
“As consumers increasingly look beyond traditional banking
services, it is important for banks to reassure consumers that
their personal data will be protected and safe,” said Joe
Gallagher, vice president & general manager of Self Service
& Branch at NCR Corporation. “It is vital that consumer data
will be used in a way that they are happy with, especially as
third-party technology increasingly plays a role in the banking
innovations they expect.”
NCR works with banks on a daily basis to help them provide
seamless omni-channel services that put customers at the heart of
the banking experience by bringing together the various processes
involved in acquiring, authorizing and routing payments, enabling
them to quickly introduce new services with the highest security
standards.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in omni-channel
solutions, turning everyday interactions with businesses into
exceptional experiences. With its software, hardware, and portfolio
of services, NCR enables nearly 700 million transactions daily
across the financial, retail, hospitality, travel, telecom and
technology industries. NCR solutions run the everyday transactions
that make your life easier. NCR is headquartered in Duluth, Ga.,
with about 30,000 employees and does business in 180 countries. NCR
is a trademark of NCR Corporation in the United States and other
countries. NCR encourages investors to visit its website which is
updated regularly with financial and other important information
about NCR.
Web site: www.ncr.comTwitter: @NCRCorporationFacebook:
www.facebook.com/ncrcorpLinkedIn:
www.linkedin.com/company/ncr-corporationYouTube:
www.youtube.com/user/ncrcorporation
[i] Survey of 1,013 adults, 16+, conducted by NCR Corporation,
via Prolific.ac, conducted July 2017
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version on businesswire.com: http://www.businesswire.com/news/home/20171127005209/en/
NCR Public RelationsOrtrud Wenzel, +49 821 405
8191ortrud.wenzel@ncr.com
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