Almost two thirds of Brits now enjoy using apps to save time (62 per cent) and almost a quarter to save money (24 per cent) when completing everyday activities such as shopping, banking and booking travel. However, one in six say they feel they are missing out on the full benefits of apps due to a lack of confidence and knowledge. Most surprisingly more than one in ten Millennials (25 – 34), usually considered the tech-savvy generation, said this was a key barrier to using apps to help with everyday tasks, according to NatWest research.
When it comes to banking, while more than two thirds of 18-44 year olds have used a banking app, the results show that more could be done to raise awareness of the security measures available, such as remote app locking. More than half of those who haven’t accessed banking through an app said their main concern was over the security of their bank details should their phone be stolen. While more than one in ten non-users (11 per cent) said they would use a banking app if they could get help from a professional in setting it up.
Frans Woelders, Chief Digital Officer, Personal Banking, NatWest, added: “The research shows that once people feel comfortable using digital services, they really benefit. They see the positives of saving time and money but for those who aren’t so familiar with digital services, it can be harder to take that first step. For those less confident, we have dedicated TechXperts in every branch to help customers who want to but don’t yet have the skills to access digital services. We’re continually investing in security, from the ability to lock your app remotely if you lose your phone, fingerprint login, facial recognition, and 24/7 security monitoring. All of this means using our mobile app is one of the safest and most secure ways of banking today. And we’re investing in improving our customers’ understanding on what they can do to keep their bank details safe and secure.”
Looking at the barriers to digital adoption, behavioural expert Honey Langcaster-James said: “In terms of improving your lifestyle, there are a wide range of benefits that can come from going digital. The psychological barriers coming from a fear of the unknown and a lack of confidence in setting up new technology can now easily be overcome simply by seeking advice from a professional or free help from companies such as banks to get started. As with many things in life, after getting over the initial hurdles, you gain a sense of accomplishment and usually end up glad that you’ve picked up a new skill.”
All of NatWest’s front line staff, including their specialist TechXperts and Community Bankers, have been trained to help upskill customers to set-up, use and understand all the ways of banking offered by the bank – all the while building their confidence. The training also includes explaining key NatWest app safety features, such as finger print login, end to end encryption, and how to use the 24/7 in-app messaging tool to solve issues.
Further help for customers can be found on the NatWest Ways to Bank pages. This Hub provides an overview of NatWest’s wide range of ways to bank, including how to use the banking app, set up a meeting with a TechXpert or Community Banker, and access to webinars and events on staying safe online.
All figures, unless otherwise stated, are from research carried out with YouGov Plc.
Disclaimer
- This information is for media use only and is not a financial promotion.
- App available to customers with Online Banking and a UK or international mobile number in specific countries.
- Criteria applies for Face ID and Fingerprint ID.
- Community Banking available in selected areas.
