Banking app now major factor for people when choosing an account
Many people would choose an account based on the mobile experience over traditional factors such as interest rates
by Neil Shaw · Wales OnlineAlmost 80 per cent of people would choose a new bank account based on the fact it has a mobile app, rather than traditional factors such as interest rates, according to a poll by digital service provider MagiClick. People said they would consider disregarding one provider over another if they didn’t offer a mobile app for their instant access savings account.
Mark Lusted, CEO of MagiClick UK, said: "Our research has confirmed a significant demand for mobile banking apps across generations, with key benefits for all. Whether it's instant access savers without a local bank branch or those with accessibility or mobility needs.
"A mobile app provides the convenience of managing savings from the comfort of home. For those on the move, busy with work or studies or simply juggling life tasks. The closure of physical High Street locations has spurred people to explore alternative banking options. Significant technological strides have been made since the COVID-19 pandemic and we expect to see a continued evolution in 2024 and beyond.”