From the GFT Banking Disruption Index report, it follows that although Poles show significant satisfaction with banking applications, their attachment to banks remains questionable. What drives the modern customer?
One in three Poles are willing to change their bank
The Banking Disruption Index survey conducted by the international technological integrator, GFT, included 10 thousand banking service users from countries such as Poland, Great Britain, the USA, Canada, and Italy. Out of all the respondents, it is the Poles who appreciate the apps and online banking services offered by banks the most, with 39% declaring that they are “very satisfied” with their current financial service provider. Despite this, surprisingly many Polish respondents are not convinced whether it is worth staying with their current offer. One in three Poles is willing to change banks, with 14% of respondents ready to do so almost immediately. The lack of full conviction in the banking service provider is declared by 17% of Poles, which is the second-highest result among the surveyed countries (the highest uncertainty indicator, at 19%, is shown by the British. This result may be the effect of being accustomed to looking for the most financially attractive offers on the market and the lack of attachment to one provider.
Given the growing uncertainty and changing needs, banks, therefore, need to adapt their approach. As the GFT study shows, older customers (55+) value the simplicity and availability of mobile applications more. On the other hand, younger generations are more open to technological innovations, such as artificial intelligence in banking.
“When it comes to applications, it is extremely important to take into account UX, or the so-called user experience. Among the priorities, 33% of respondents pointed to ease of use, 29% to quick access to funds, and easy configuration was indicated by 21%,” emphasizes Małgorzata Barska, Head of Experience Design, Head of Mobile, GFT Poland. “Younger customers are definitely more open to technical innovations, including AI in the banking sector; the elderly care about simplicity. Therefore, it is worth considering this when banks adapt their solutions to the target group,” she adds.
User education and AI implementation success
Another issue covered in the survey was the use of AI in banking. Particularly sensitive was the topic of saving. Nearly half of Polish respondents (48%) do not want the bank to use AI solutions to help them regularly save money. The main reasons for the lack of trust in artificial intelligence relate to unpredictability of AI actions and decisions, excessive dependence on technology, as well as a lack of transparency. One-fifth of respondents were concerned about losing contact with a human after implementing AI in the bank.
“From the analysis of statements of our respondent group, there is a lack of trust in new technologies, which mostly comes from the fear of losing personal contact and approach to the customer from the banks. The strong awareness of the Polish market being serviced by consultants in contact centers or banks makes the barrier to using autonomous banking solutions still high. Therefore it is important for banks to show the benefits of using machine learning models, for example in the form of improving the speed and quality of customer service, and better aligning the product offer to the changing needs of user groups. The fact that a personalized product offer is a significant factor affecting customer satisfaction is best evidenced by the fact that hyper-personalization understood in this context is important for over 41% of respondents – says Monika Kania, Chief Revenue Officer at GFT.
Those who see the implementation of AI as positive mainly mentioned better expense categorisation, advice on how to optimise participation in cashback type promotions or in financial education. For older people, personalised advice and services are important, while young people prefer to compare how others their age save and how they compare to them.
The GFT Banking Disruption Index indicates that even in the digital world, a personal approach and trust remain key. The banking sector needs to rethink its strategies, balancing modernity with traditional values, to effectively respond to the dynamically changing needs of Polish customers.
About the Banking Disruption Index
The Banking Disruption Index is a periodically conducted study of habits, preferences and expectations of customers in the banking and financial services sector, commissioned by GFT. In this year’s edition, over 10 thousand respondents from Poland, Great Britain, the United States, Italy, and Canada took part. Respondents from different countries answered seven identical questions, allowing the creators to draw conclusions about similarities and differences in the preferences of bank users in the selected countries. In addition, three questions dedicated to people from Poland were included in the report, which allowed for an even more precise determination of local trends and user needs.
Source: https://managerplus.pl/blisko-polowa-polskich-respondentow-nie-chce-zeby-bank-korzystal-z-rozwiazan-ai-18775
