In a recent survey carried out by Cisco, internet business solutions group found that a large majority of customers are comfortable with the increasing use of virtual communications within banking.

The survey, conducted on 1,514 people from ten countries worldwide concluded that around two thirds of customers want access to banking services whenever they need them, competent advisors and efficient communications.

71% of respondents are willing to use digital channels in addition to in-person financial conversations if this improves their experience of communications.

The study also found that,

– 60% are happy to open an account online;

– 57% are comfortable with getting a loan over virtual communications;

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– 46% are willing to video chat with an advisor.

– Over 50% of respondents are willing to receive real-time notifications;

– 59% are comfortable being sent recommendations or advice based on location data from their mobile phone.

In relation to security, 61% of respondents said they would provide a fingerprint in exchange for protection against identity theft. 60% however did not wish banks to share their data with third parties.

Jorgen Ericsson, VP, global financial services practice, Cisco said: "Retail banks that succeed in providing a seamless customer experience across all channels to market- branch, mobile, online, contact centre- will be the winners of the future. Superior customer experience will be the only long term sustainable differentiator."

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