<img height="1" width="1" style="display:none;" alt="" src="https://px.ads.linkedin.com/collect/?pid=1237202&amp;fmt=gif">
Search post

Press release: Research reveals rise in people contacting their banks during the coronavirus crisis

Woman at desk
  • One in 20 have discussed a holiday period for their mortgage repayments
  • Main communication channel used has been bank apps 
  • One in three banking customers say banks have increased their level of communication during the crisis compared to 7% who think it has fallen

Some 22% of people claim to have contacted their banks about Coronavirus related issues since the crisis began, with the main reason (6% of people) being to discuss their overdraft. The findings, which are from Nucoro, the London based fintech platform that enables banks to deliver innovative investment and savings solutions, reveals this is followed by 5% who say they have contacted their bank to discuss a holiday period for their mortgage repayments, and 4% to discuss new plans to repay credit card debt.

Reason for contacting your bank 

Percentage of people who have contacted their bank for this reason because of Coronavirus  

Discuss overdraft

6%

Ask for holiday period on mortgage repayments

5%

Discuss new plans for repaying credit card debt

4%

Discuss plans to take out a new credit card/loan

3%

Discuss new plans for repaying a loan

2%

To discuss new plans for re-mortgaging

1%

 

Over the past four weeks or so, of those people who have contacted their banks, 67% did this through apps, and this is followed by 55% who used the phone. Some 16% sent emails and 13% visited their branches.

During the Coronavirus crisis, 33% of people claim the level of communication from their banks has increased compared to 7% who think it has fallen, with 56% claiming it has stayed about the same (the remainder don’t know).

Nikolai Hack, COO at Nucoro said: “The Coronavirus crisis has resulted in an increase in the level of communication between banks and their customers, and much of this has been carried out via digital channels.

“The level of knowledge and information banks have on their customers should increase and for those that are seen to rise to the challenge and really help their clients through these difficult times, the relationship will become stronger. Over the long-term, this should help banks market a wider range of products and services to their client base and develop new propositions. One obvious area here is around investment solutions.”

 

Related Posts
Always-On Omnichannel Customer Engagement Is More Critical than Ever
Webinar roundup: prioritising innovation for new customer needs
Press release: Nucoro and Bahrain FinTech Bay announce partnership
A guide to ramping up banking innovation in 2020
Banking webinar: Prioritising innovation for new customer needs

About Author

Nucoro
Nucoro

Comment

Subscribe To Insights

Subscribe to Email Updates