After the iPad, iPhone, Here's The iBank : Apple Could Be Massive Threat To UK Financial Services

A report published by consultancy firm KAE found out that Apple would have a very receptive audience should the consumer electronics giant decide to break into the banking sector.

A survey carried out by Toluna for KAE using a sample of over 5000 respondents scattered across the US and UK found out that one in ten people would consider banking with Apple while 43 per cent (that's not far from half) of existing Apple customers would trust Apple with their day to day banking needs.

Trust in the brand is by far the most popular reason for prospective customers to switch to an Apple iBank with just over half saying that Apple would "make their account easy to access and manage, as well as providing a reliable service."

More than three quarters of those who said that they would bank with Apple consider themselves as technologically savvy with a significant portion saying they'd consider using their smartphone for personal banking and just over half saying that call centres may be disappear in the future.

Apple is sitting on a cash mountain of around $100 billion and already have credit card details for around 300 million iTunes users, more than Amazon and Paypal put together.