Britons resistant to mobile banking
UK consumers and businesses are ahead of the curve when it comes to adopting new technologies, according to KPMG’s latest Consumer & Convergence Report.
Both online shopping and the use of social media are more widespread in Britain than in other parts of the globe.
However, when it comes to mobile banking, consumers in the UK are more resistant than elsewhere.
Only 27% of Brits surveyed said they had used some form of mobile banking in the past six months (globally 52%), with many put off by:
Concerns over the potential for credit card information to be intercepted by an unauthorised party (66%); the threat of unauthorised parties accessing personal information (62%).
KPMG’s head of technology, Tudor Aw, explains: “Whether its retailers or banks, consumers want transparency as to what companies do about data security and they want third parties to certify this security.”
The research also reveals that when buying products or services, the majority of UK consumers consult feedback and ratings pages on the internet, or gather information on social networks such as Facebook and Twitter.
KPMG therefore suggests that monitoring and managing third party information sources is now a key element of any digital sales strategy.
Also of note, Britons are increasingly willing to allow their online usage pattern and personal profile information to be tracked by advertisers, if it results in lower cost or free content.
Almost half of respondents in the UK said they are ready for such a “trade off”.
KPMG’s survey of consumer trends in digital technology, communications and e-commerce involved 9,600 consumers in 31 countries ranging in age from 16 to over 65.
Category: Banking News
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