Banking Hunter Infographic: 2017 Global Distribution & Marketing Consumer Study

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  • HOW CAN BANKS MEET CUSTOMER DEMANDS?BEYOND DIGITAL:2017 GLOBAL DISTRIBUTION & MARKETING CONSUMER STUDYBANKING REPORT

    TIED TO TRADITIONAL PROVIDERS

    ARE DUBIOUS ABOUT NEW MARKET ENTRANTS

    PREFER TRADITIONAL PROVIDERSNot convinced by non-bank providers

    None are willing to bank with Amazon or Google

    Only 23% think payments provider can deliver quality banking products

    53% werent sure if any non-bank provider was fit to do so

    Just 12% would bank with a supermarket/retailer

    Banks hold on Hunters is still strong, but banks oering a combination of quality and low price can gain share from other banks

    Banks working with Hunters should focus on the basics of cost and service

    Banks may need to oer more competitive pricing as a trade-o for data sharing

    Computerized advice on banking products can supplement but cannot replace human advisors for banks dealing with Hunters

    Social media and other online channels are important for communications but not for banking transactions, at least at present

    As is the case with Nomads, Hunters are very interested in tracking expenses and cutting costs

    Hunters are still seeing banking as a straightforward, specific set of business activities

    DEMAND A HIGH SERVICE LEVEL FOR THEIR MONEY

    COST MATTERS TO THEM

    EXPECT PRICE GAINS FOR SHARING PERSONAL DATA

    SERVICE EXPECTATIONSWant banks to match tech providers digitally-driven service level

    WANT BANKS TO PRIORITIZE BANK SERVICES

    Banks ability to provide quality and security can help in matching up with

    tech providers established advantages in automation and scale

    44% say value for money is a top driver of loyalty

    Banks may have to explore more dierentiated oerings, with some of the more basic services oered

    on a low-cost basis

    They care most about low cost (83%) but it doesnt mean they will compromise on service

    76% say lower prices are important in return for sharing data

    While only 40% say the same about location-based oers

    Basics such as quality and security

    must be in place before Hunters will consider buying more services

    55% would prefer their bank to improve at the basics before expanding its oering

    HUNTERS VALUE HUMAN ADVICE

    BUT NOT MIGRATING ONTO NEW CHANNELS TO BANK

    NEED THE HUMAN TOUCHThe human touch is important to them

    Only 19% are very willing to accept automated support for banking

    40% value the more personalized advice human advisors provide

    46% browse the internet on their smartphone daily

    44% read social media posts daily

    70% use a smartphone less than once a week or never for banking

    Only 9% would like their bank to communicate more via social media

    36% would like tools that help them manage their monthly budget

    38% would like their bank to help with major purchases by sending relevant information in real time

    PRACTICAL VALUE

    OPEN TO NEW SERVICESSeek practical added-value services

    THEY ARE ACTIVE ONLINE FOR NON-BANKING ACTIVITIES

    OPEN TO DIGITALLY-DRIVEN OFFERINGS WITH GREATEST

    BANKING HUNTERATTRIBUTESHunters are consumers searching for the best deal on price. They make up17%of banking respondents.

    Copyright 2017 AccentureAll rights reserved.

    ABOUT THE CONSUMER STUDYAccenture surveyed 32,715 respondents across 18 markets. Respondents were consumers of banking, insurance and investment advice services and covered multiple generations and income levels. The fieldwork for the survey was conducted during May and June, 2016.

    Visit www.accenture.com/FSConsumerStudyBanking Visit www.accenture.com/FSConsumerStudy for more information on financial services results.

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