Research commissioned by data management vendor Relay 42 has shown that digital-only banks are becoming increasingly popular with Brits, with 27 per cent having already moved to a mobile-only bank and 26 per cent considering doing so.
The study surveyed over 2,000 Brits and identified the main reasons for respondents choosing to switch to digital-only banks, with more than half citing a better online experience and functionality.
More people in Britain are taking advantage of mobile payments, according to research from payment systems company Vocalink.
The company’s State of Pay 2017 report surveyed more than 2,000 British consumers across all age groups. They found that payment services provided by applications including Apple Pay, for example, are rising in popularity across the UK.
Millennials are using their knowledge of technology and social media platforms to seek out new online investment platforms, according to a report from peer-to-peer (P2P) business lending platform ArchOver.
The report, entitled Next Gen: Investors and Savers, questioned 2,000 UK adults on how they feel about risk and investment in the current climate and found that more than 65 per cent are savers, with these respondents choosing banking methods such as savings accounts and pensions.
Starling Bank has teamed up with mobile payment and loyalty platform Yoyo Wallet to give customers the opportunity to benefit from loyalty reward programmes from specific retailers whenever they make payments through Starling.
The challenger bank is the first bank in the UK to fully comply with the PSD2 EU-wide directive, which is a new open banking rule set to be introduced early next year that will enable consumers to select which third-party providers they wish to share their data with.
NatWest is to help its customers achieve their financial goals by launching an automated investment advice service.
NatWest Invest is an online platform that enables the bank’s customers to receive advice and keep track of their investments, with the service being available to customers that have a minimum of £500 to invest.
Research from Visa has shown that millennials are choosing banking apps over traditional bank branches, with 53 per cent of 18 to 34-year-olds regularly using a banking app on their mobile phone.
The research surveyed more than 2,000 Brits and found that 38 per cent routinely use a banking app on their phone. However, banking apps have not quite yet taken over, with 31 per cent of millennials admitting that they have never used one.
Research from talent acquisition and management solutions company Alexander Mann Solutions, has revealed skills that HR professionals believe businesses should be developing in order to enhance the potential of artificial intelligence (AI) in the workplace.
The study surveyed more than 2,000 senior HR professionals and found just 23 per cent of respondents believe businesses are preparing professionals for the rise of AI.
A survey from technology company Avaya has revealed how banking customers in the UK prefer to be contacted by their bank.
The research, which surveyed 2,345 banking customers and was carried out by YouGov, found that 60 per cent of Brits prefer to go directly to their bank’s website or use automated services instead of speaking to their bank directly.
Research from communication technology company Polycom, Inc has revealed how UK workers feel about remote working, with older workers and millennials being found to have regularly taken advantage of working this way.
The research showed that 63 per cent of people in the UK now work remotely, with fear of working longer hours being revealed to be the main concern among people who work this way
Britain is leading the way in fintech adoption in the developed market, according to a new report from professional services and Big Four firm EY.
EY’s fintech adoption index showed that 42 per cent of consumers in the UK are now using fintech services. However, there has been growth worldwide when it comes to the adoption of financial technology, with usage rates being high in emerging markets such as South Africa, China, India, Brazil and Mexico.
The UK ranks number one in Europe for venture capital and angel funding in the educational technology sector, according to London EdTech Week co-founder, and IBIS Capital Partner Benjamin Vedrenne-Cloquet.
The edtech sector is one of the fastest-growing in the UK, with angel capital and seed angel investors providing £178 million.
Mobile banking is becoming increasingly popular in the UK, with more people using a smartphone to access their bank account on a regular basis, according to research from market research company Forrester.
The European Financial Services Survey surveyed 3,870 online consumers in the UK and found that 35 per cent of respondents use a smartphone to log into their bank account every month, whilst 21 per cent use a tablet and 1 per cent use a smartwatch.