The majority of respondents are less likely to attend a physical subsidiary after a pandemic
People over 60 are dramatically switching to digital banking. Source: pexels.com
More than 90% of people over the age of 60 used digital banking for the first time during the COVID-19 pandemic, according to iResearch Services.
In comparison, 17% of people under 30 said they were accessing services for the first time through an app or web browser.
The results show how banks must adapt to help serve the inflow of new digital users and build their trust, fueled by the coronavirus pandemic. This way, 97% of young people aged 18-24 trust their data to the bank, compared with 33% of people over 66.
The vice president also revealed that 54% of respondents are less likely to attend a physical subsidiary after a pandemic. This highlights a dramatic shift in the way people access banking now and in the future.
According to other results, 63% of respondents said their bank acted in their best interest during the pandemic. However, a third said they would consider switching banks for better and more personalized communication.
We’ve reported that with $5 billion funding from the African Development Bank over the next five years, women enterprises will be able to expand their businesses.
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
