Banking trends changed throughout the world amid the pandemic, with huge percentages of people in favor of app or website based banking

The pre-2019 world happened to be a lot different compared to the way of living amidst the pandemic. With the world trying to fight a deadly virus which came so suddenly that we weren’t equipped for it, lockdowns were implemented. People barely stepped out in fear of contracting the disease and hence everything moved online, grocery, cloth shopping and even banking.

While both banking and shopping were two means that could be done online pre-pandemic too, it wasn’t a very common practice. However, in between the pandemic with more digital banking taking over, people have become quite accustomed to the idea and appreciate it in the post-pandemic world too.

YouGov, hence conducted a survey, and asked consumers over 17 markets internationally on how they preferred their means of banking. In the overall survey, 43 percent consumers globally stated that they preferred online bank applications, 26 percent preferred online websites and only 20 percent which makes up one in five global users wanted an in person bank visit to sort their banking issues and tasks.

In countries like Mexico (57) Indonesia (55) and Great Britain (52) were people seen to be more accustomed to application based banking 8, 6 and 26 percent respectively in the following countries preferred website based banking. While lesser people preferred online website banking in the following countries what came out as a shock was that more users in comparison to online preferred in bank experience with the ratio at 22, 29 and 16 in the above mentioned countries respectively.

US, Hong Kong, and Germany showed lesser people interested in bank application with the percentage chart only rising to 34, 34 and 24 percent respectively in the above mentioned regions and people in these countries wanted other means more, for example, in US 30 percent, in Hong Kong 29 percent and in Germany 44 percent preferred website based banking and 24, 21 and 14 percent people respectively in these three countries liked an in bank experience more.

Other countries like Australia, India, France, Spain, UAE, Denmark, Poland etc. had their own preferences all the categories were almost in collision with each other.

While people preferences do matter in such matters, their preferences are hugely based on what the countries governing system is and how well which category their bank is providing. For example, if a bank has an easier app system compared to a website which crashes most of the times, users will obviously use the app version.

However, we should not neglect that a lot of users apparently have become an online bank convert during the pandemic and the virus has changed a lot of things in our life, and one of them happens to be banking.

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