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Almost 58% Metropolitan Online Indian Adults May Switch Banks This Year: Survey

An almost equal number of adults (32 per cent) said they will switch to a banking provider that focuses on "improving customers' financial well-being"

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Indian
The survey involved nearly 3,000 metro Indian online adults to understand their expectations when interacting with Indian financial services firms. Pixabay

About 58 per cent metropolitan Indian online adults may switch banks this year, according to a survey by market research firm Forrester.

“Poor digital experience” is one of the main reasons cited by people who said they want to switch their banks.

Other key factors for switching are poor customer service, lack of trust in the financial provider and existence of better alternatives, the results showed.

The survey involved nearly 3,000 metro Indian online adults to understand their expectations when interacting with Indian financial services firms.

The research revealed that 83 per cent of the participants want to be able to perform any financial task on a mobile device.

Nearly a third of the participants (31 per cent) said they are unlikely to switch banks because they have had a good experience with their existing provider.

Indian
About 58 per cent metropolitan Indian online adults may switch banks this year, according to a survey by market research firm Forrester. Pixabay

An almost equal number of adults (32 per cent) said they will switch to a banking provider that focuses on “improving customers’ financial well-being”.

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“To win, serve, and retain customers, Indian banks must focus on delivering better service and excellent digital experiences to customers while helping them improve their financial well-being,” said the report. (IANS)

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Nearly 84% Indians Believe That Recovery From Coronavirus Pandemic Will Take 6 Months To 1 Year Time: Survey

The survey shows that as a precautionary measure, 81 per cent people have started washing their hands more frequently than before and 78 per cent have started avoiding crowded places as and when possible

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Coronavirus
Out of 94 per cent respondents who are aware about the COVID-19 disease, 75 per cent are extremely concerned about the disease while only 52 per cent are aware of the virus type spreading the disease, said the survey from market research and analysis firm Velocity MR. Pixabay

Nearly 84 per cent Indians feel that recovery from new coronavirus epidemic will take 6 months to one year time, a new survey said on Tuesday.

Out of 94 per cent respondents who are aware about the COVID-19 disease, 75 per cent are extremely concerned about the disease while only 52 per cent are aware of the virus type spreading the disease, said the survey from market research and analysis firm Velocity MR. The survey involving 2,100 people was conducted in cities including Delhi, Mumbai, Bengaluru, Kolkata, Chennai, Hyderabad, Pune, Lucknow, Ahmedabad and Jaipur.

While 70 per cent respondents feel older people and also people with pre-existing conditions are more vulnerable to be infected by the virus. However, 63 per cent said this can be tackled with if proper hygiene and necessary precautions are taken.

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“The survey shows that as a precautionary measure, 81 per cent people have started washing their hands more frequently than before and 78 per cent have started avoiding crowded places as and when possible,” said Jasal Shah, Managing Director and CEO, Velocity MR.

Coronavirus
Nearly 84 per cent Indians feel that recovery from new coronavirus epidemic will take 6 months to one year time, a new survey said on Tuesday. Pixabay

Another important highlight is that 72 per cent of those surveyed said they will be more cautious and responsible while travelling abroad in future. The survey also found that many could not make changes in their day-to-day activities even if they wanted to.

While 58 per cent mentioned that they could not buy groceries and daily essentials during non-peak hours, 46 per cent could not avoid travelling for work-related purposes and 25 per cent were not given the provision to work from home by their organisations.

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The respondents rely on television, social media, online websites and newspaper (in order) to get information about COVID-19. The general opinion among the respondents was that the travel and tourism sector has been hit the most with 51 per cent of the respondents having to cancel their trips in the last one month. (IANS)