It may be taboo to talk about money with friends and family but when it comes to your bank it’s a different matter, with today’s social media savvy consumer taking advantage of more banking webchat services than ever before, according to the latest research from UK Finance.

The Way We Bank Now report, sponsored by EY, reveals that the popularity of services such as Twitter, Facebook messenger and WhatsApp, is encouraging banks to invest in similarly fast and convenient webchat services with customers embracing online support – major banks had over 5.5 million webchats with customers in 2017, the equivalent of 622 per hour.

Helping customers wherever they are, be it via video banking or call technology, tablet computers or online mortgage application services alongside pop-up, micro and mobile branches, is a sentiment increasingly adopted by the banking industry as it seeks to respond to customer demand for accessibility 24/7. In coming years video banking and voice activation will become even more prominent.

Overall in recent years digital innovation has transformed the way we manage our money – in 2017 customers logged into apps over 5.5 billion times, a 13 per cent increase since 2016 – and increasingly customers are utilising new technologies to talk to experts outside conventional bank branch hours rather than taking time out of their working day.

Attachments
The Way We Bank Now 2018