Brits are happy with their banks

Pretty much everyone in the UK is satisfied with their banks and the services those banks offer, Juniper Research confirmed earlier this week.

According to the market analysts' research, 98 per cent of those surveyed said they were either 'happy', or 'quite happy' with their service. Juniper failed to mention the size of the group it surveyed, though.

But what it did mention is that banks are now faced with a couple of new challenges – mobile access and contactless payment. Mobile access is now considered a 'key pillar of a bank's offering', and 31 per cent of users would consider switching banks if this experience was not satisfactory.

Trust is also a big issue – among those 30 per cent of respondents that don't use mobile banking services, the key barrier is the lack of trust in online services. They'd also like to have alternatives, such as in-branch services, Juniper says. In order to increase the overall adoption of mobile banking services, these trust issues need to be resolved, the company also said.

This relates particularly to the older population, as that's where the biggest amount of non-consumers is.

Still, consumers expect technology to move forward – 50 per cent of current contactless card users expect another payment method, such as smartphones or wearables, and 23 per cent of those not using contactless payment methods are expected to start using either smartphones or wearables.

The full report can be found on this link.