From fragmentation to integration: Digital banking is going personal
Our survey of over 500 UK adults shows that 65% of users juggle five or more financial apps, switching between services like current accounts, investments, mortgages, and credit. This fragmented approach underscores a growing demand for personalised and integrated digital banking experiences – a shift that could redefine user satisfaction. In our digital-first world, the ease with which you can manage your finances directly impacts customer loyalty.
Designing personalised experiences
Our findings reveal that users are looking for a more cohesive financial journey. For banks, this means moving beyond isolated features to create integrated experiences that make financial tasks simpler and more intuitive. By consolidating services into a single platform, banks can offer a holistic view of users’ finances, bringing real value by streamlining management.
In our survey, Monzo was frequently mentioned as a standout in this regard. Its “pots” feature allows users to segment funds for different purposes, making budgeting intuitive and engaging. This approach, which combines personalisation with an integrated platform, helps users align daily actions with financial goals. First Direct also earned high marks for its mobile deposit functionality, allowing users to deposit cheques with a simple photo. Features like these demonstrate how personalisation can remove friction and enhance user satisfaction. Banks have a real opportunity to deliver similarly impactful experiences that meet users' evolving expectations.
Learn what the key takeaways from our customer survey are ->
Making banking relevant to every user
The demand for personalisation is clear, with 66% of users open to switching to a provider offering tailored tools and insights. How can banks anticipate user needs and provide value in a way that makes banking both relevant and supportive? Banks can respond by designing features that adapt to individual preferences and behaviours. Going further, personalised financial dashboards that offer insights into spending patterns, budgeting, and savings goals can create a unified digital space that supports users’ unique financial needs.
By integrating third-party apps, such as budgeting tools or investment platforms, banks can make managing finances more accessible. Additionally, machine learning can power automated suggestions, enabling users to make informed decisions without navigating multiple apps. With insights from user behaviour, banks can shift from a reactive to a proactive approach, fostering greater user engagement and satisfaction.
Leveraging user insights
Banks today have a valuable opportunity to turn user insights into experiences that people genuinely value. Our survey data underscores a significant shift: users want banking tools that fit seamlessly into their lives. Banks can strengthen customer loyalty and stand out in a competitive landscape by creating personalised, integrated solutions.
Our latest PDF report highlights seven key takeaways shaping digital banking and offers actionable strategies for crafting customer-centred experiences that drive loyalty. As a strategic partner, Futurice brings the expertise to transform these insights into digital services that meet today’s demands and evolve with user needs in a dynamic digital landscape.
Matthew EdwardsManaging Director, UK
