For eBusiness & Channel Strategy Professionals (Length: 15 pages)
This is a Consumer Technographics document

October 9, 2009

How UK Banking Customers Use Different Channels

This is the first document in the "How UK Consumers Use Financial Channels" series.

by Benjamin Ensor

with Alexander Hesse, Courtney Tincher


Executive Summary (This is a document excerpt)

The steady growth of online banking in the UK over the past decade is changing the way people use other banking channels. Half of UK adults still visit a branch each month, although the number of regular branch users has fallen. Banks' efforts to persuade customers to adopt self-service channels for routine interactions, thus releasing branch and call center employees for higher-value interactions, have stalled. eBusiness and channel strategy executives at the UK's banks need to continue right-channeling customers by encouraging them to use self-service channels for routine interactions, releasing branch and call center employee time for higher-value interactions like providing financial advice and selling products.

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TABLE OF CONTENTS

NOTES & RESOURCES

itemCustomers Use A Wide Range Of Channels

itemDifferent Customer Segments Use Distinct Channel Mixes

itemCustomers Will Continue To Migrate From Branches To The Net

itemBanks Need To Replace Branch-Centric Banking With True Multichannel Banking

itemRight-Channel Customer Interactions

itemReposition The Branch Network For Advice And Sales

itemPut The Internet At The Heart Of Distribution Strategy

recommendations

itemCentralize Channel Management

itemSupplemental Material

The majority of the data used in this report was drawn from Forrester's European Consumer Technographics® Benchmark Survey, Q2 2009, which surveyed 4,259 adults in the UK.

Related Research Documents

itemTrends 2009: European Retail Banking eBusiness And Channel Strategy

May 12, 2009

itemUK Online Banking Forecast: 2007 To 2012

November 1, 2007

itemHow UK Consumers Use Banking Channels

August 26, 2005

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Analyst: Benjamin Ensor
Technology: eBusiness/eCommerce
Industry: Consumer Financial Services, eBusiness/eCommerce Strategy, Financial Services, Financial Services Customer Relationship Management, Online Financial Products & Services, Retail Banking
Geography: Europe

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