SQS, the Cologne-based consultancy firm specialising in quality assurance for software-based systems, has released its key findings from a survey conducted to analyse the perceptions and usage of different types of banking channels by the UK general public. The survey, undertaken by Arlington Research who led 2,000 online interviews, found that although 95% of the respondents who bank online value the convenience banking technology brings, 37% said that they would lose faith in their provider if the website or mobile app stopped working properly. Diederik Vos, CEO of SQS, said “with technology a key differentiator among providers, banks face a challenge to drive market share from mature technologies whilst exploring and implementing new service options effectively. As the digital banking ecosystem continues to evolve, the need for digital quality assurance becomes a top priority to keep customer trust and generate positive feeling”. The results have shown that UK consumers place a high amount of trust in their banking provider with 85% of customers saying that they trust them with their personal information and to manage their money effectively. The report also says that open banking, set to come into effect in January 2018, will open up the market and increase competition, and therefore business agility, speed to market and customer experience is key for banking providers. “Trust in technology has never been so important. Banks need to act now and put quality at the heart of their digital transformation,” concludes Vos.
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