An American survey published by the company “One Ball” indicated that the majority of people in the world prefer to go to banks to carry out banking transactions.
The surprise that came in the study is that the post-millennial generation, in turn, does not favor the transfer of money through apps.
According to the survey, 83% of customers prefer traditional banking services over digital services, largely due to the ability to speak to a bank employee face-to-face, as well as the speed of resolving complex issues.
Despite significant technological advancements in digital banking, 27% of people worldwide still use traditional banking services extensively.
In contrast, only 12% said they would prefer to use a digital bank that does not have a physical presence.
According to the survey, the luxury of digital banking services and the time saving that distinguishes them have not prevented 4 out of 5 digital banking users from returning (again) to traditional banking services.
The questionnaire concluded that digital and traditional banking platforms together enjoy benefits that fully serve customers, creating a clear desire among customers to have institutions that provide both services together.
Commenting on this, economist Amr Abdo says:
• There is a tendency for customers to transact within banks as digital and “online” services are still a new thing till now as it emerged after the global financial crisis in 2008 .
• Banks’ revenues fell during this time, so banks tried to reduce expenses, and moved many services over the Internet to reduce the number of employees.
• When it comes to money, people tend to deal directly with an employee in anticipation of any mistakes that might occur, so they prefer to stay away from digital and automated channels.
• Young people are more interested in digital services, while older people tend to use traditional methods they are familiar with.
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