A report published last month, commissioned by the UK Competition and Markets Authority (CMA), confirmed that fintechs rank more highly than traditional banks when it comes to good customer service. Bank customers are demanding greater control over their accounts and facilities as much as consumers of any other sector.
This finding is supported by research from customer engagement platform Braze, which reveals that less than half of customers are happy with the way banks are communicating with them. Although the CMA report is UK-focused, similar changes in bank customer demands are occurring around the world.
