The majority of UK adults would prefer to do their banking online than in a physical branch, however less than a quarter currently trust the information they receive online from banks, a new survey has found.

The study from Lithium Technologies which surveyed 2,000 UK adults revealed that 62 per cent would rather bank online than in a branch. But it also showed that just 23 per cent do not trust information online from banks, with in-person banking remaining the most trusted source of information for 58 percent of UK adults.

When asked which they found to be the most convenient way to conduct their banking, 59 per cent of respondents chose digital, with 23 per cent opting for in-person and only nine per cent chose via telephone.

Rob Tarkoff, president and CEO of Lithium Technologies, said: “This is a huge opportunity for the UK financial services sector. Consumers have a strong and clear preference towards digital banking, but the current experience does not meet expectations.”

“What we hear from customers is that the way to build trust with consumers on digital is to serve them in the channel of their choice, get them the right answers when and where they want, and help them connect with other customers.”

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