News & Views - Savantor

Silver surfers don’t do it

Tuesday, 31 May 2011

When you are asked the time, what do you do?  If you look at your watch rather than take your phone out then the odds are mobile or even online banking is not for you.  Around two thirds of UK consumers say online banking is their preferred way of accessing money, with a quarter checking their accounts as often as once a day, according to a survey commissioned by the Payments Council.  However, the poll shows that age is still a major factor, with only a quarter of over 55s (three quarters presumably all wearing watches whilst writing cheques) having ever banked online.  Visiting a branch is most popular amongst older generations, with 42% of respondents aged 75 and over preferring this, compared to only one in five of 18 to 24 year-olds.

The Payments Council commissioned the research to coincide with the launch of an educational campaign called 'pay YOUR way' designed to promote "modern" payment methods.  The campaign comes after the body faced heavy criticism recently over plans to abolish cheques by 2018 and has vowed to ensure that viable alternatives will be available for vulnerable groups, especially the elderly.

first direct says that half of its Silver Surfers use its internet banking service.  However, the bank's text message banking has just 1 in 5 of its over 55s signed up to the service versus almost 43% amongst the remainder of its customers.  Another poll of around 1000 customers at RBS, Lloyds, Barclays, HSBC and Santander shows that:

  • When asked which channel they are most satisfied with, 70% choose online, compared to 17% for the branch, 10% cash machines, 2% call centres and 1% for mobile banking.

  • 10% of respondents are using their mobile phone to bank, and less than 1% have actually used an app.

  •  42% wanting their banks to use the post to contact them, compared to 38% who want e-mail, 11% the Web site and 3% text messages or mobile alerts.

Finally 97% of respondents say they have no interest in friending, following or liking their banks on sites such as Facebook and Twitter.  And I bet they all wear watches.

Savantor Services

Savantor Services

Savantor services are tailored to Client needs based on our core service areas

Specialist Resourcing Payments Strategy Platform Transition Operational Efficiency
Savantor Services

Job Opportunities

Consulting and contracting roles in the payments, mobile and banking arena within the UK and across Europe

View more
Savantor Services

Savantor Views

Find out more from our Savantor brochures, MarketEye back copies and Industry opinion

Collateral Market Eye News & Views Sign Up to receive MarketEye

Client Quotes

Credit Risk Review for New Product Launch

"We needed expert help at short notice and Savantor were very impressive in their response and knowledge. The results were very clear and useful, enabling us to quickly make good progress on the next steps."

Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

Complex Cards Business Transformation

"This was a major business transformation that required us to build an excellent team made up of internal bank specialists, supported by external card business, technical and operations expertise. Savantor provided specialists from the local market and with international experience to fill a variety of important roles. The Savantor resourcing team are professional, reliable and good people to work with."

Ricardo Gomez, Director - Operations & Technology - WiZink Bank - Spain

Interchange Review

"Savantor did a superb job in confirming what we believed was an area of weakness. The detail we now have will enable us to agree internally what we need to do to improve structure, control and income. Nationwide management were very impressed with the quality of the Savantor team."

Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

Platform Selection & RFP Management

"OP-Pohjola Group has used Savantor in both acquiring and issuing for platform/service provider research, RFI/RFP processes and subsequent contract negotiations. Savantor's approach and commitment have always been very professional and transparent. They have been of great help for the company in providing us important insights and background information beyond vendors sales speeches."

Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

Acquiring market insight and strategy review

"Savantor brought an independent perspective and valuable insight that enabled Rabobank to ratify options for delivery and future growth and make informed business decisions in support of our target business model. Having used Savantor on a number of strategic projects, we have no hesitation in recommending their services to others."

Evert R Fekkes, SVP Payment & Savings Services - Rabobank - Nederland

Card Processing Migration

"Disciplined methodology and effective teamwork, guided by Savantor's migration expertise and operational knowledge, were the hallmarks that led to the resounding success of this project, enabling us to maintain and develop our business capability."

Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

Card Migration

"I was impressed by the speed with which the Savantor team were able to start delivering and as a team they have made a significant contribution to the success of the Programme."

Bjorn Niels, Programme Director - ABN AMRO Bank - The Netherland

Acquirer Risk Assessment

"The expertise provided by Savantor has greatly helped us evaluate our risk position and to take the right steps in managing our future risks. Strong, disciplined planning and an ongoing willingness to work closely with our staff played an enormous part in making this a very successful well-delivered project which will greatly help us in achieving our business goals."

Mark Healy, Chief Risk Officer - NEOVIA Financial - UK

Clients - Request Support

Send us a support request and one of our specialists will be in contact to assist you.

Consultants – Upload your CV

Register your CV with us and gain access to a range of job opportunities through our online job search portal.