Banking customers still prefer to visit a branch and speak to staff face-to-face when dealing with their financial affairs, a new survey has showed.

The finding from the research, commissioned by Equifax and conducted by YouGov, emerged despite the evolution of technology and the emergence of new digital communication channels.

Direct interaction was rated the top choice by 32 per cent of respondents, with 19 per cent choosing to telephone their financial provider and 15 per cent visiting a website. Only 8 per cent preferred email and just 6 per cent opted for secure online messaging via the provider’s website.

The study indicated that these communication preferences could be driven by security fears, which remained a major issue when it came to using a financial services provider’s website, Equifax said. In the survey of 2,090 adults, 34 per cent of consumers who did not converse online cited security concerns as the reason, and a third of all respondents believed their bank did not communicate very much, or at all, about the security precautions of using services online.

Among consumers who did access financial services online, a significant proportion used mobile devices (37 per cent on smartphones and 34 per cent on tablets). Yet half of those surveyed felt it was less secure to access financial websites using a smartphone than a desktop computer, and 48 per cent believed it was more difficult.

Fraud was also a major issue for consumers, with the research suggesting that the traditional letter was seen as the most trustworthy method of communication – only 16 per cent of consumers thought that a letter from a FS provider was a potential scam. But all other forms of contact were viewed with more scepticism. Some 60 per cent of respondents were worried about the legitimacy a telephone call, while email was a concern for 58 per cent of consumers, text for 57 per cent and social media for 56 per cent.

John Marsden, fraud and identity expert at Equifax, said: “In order to encourage more consumers to use digital communications providers must up their game. Consumer demand for convenient and easy access to their finances through online portals on a range of devices is growing, however to meet this demand effectively, providers need to provide reassurance that it is secure and data is protected.

“Reducing exposure to fraud must be done in a way that improves rather than complicates your customers’ journey. The right technology needs to be in place and the protection you provide to your customers must be clearly communicated to them.”

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