Nearly one in three UK adults have considered changing banks in the last 12 months after IT glitches and poor digital experience left them frustrated.

A poll of 1,000 UK banking customers by Dell’s Boomi platform found that 21 per cent had considered moving to a rival bank because of a feeling that they could get a better digital customer experience elsewhere, while the in-branch experience was a key driver for 19 per cent of those asked.

A fifth (22 per cent) said they would be happy if their bank closed its branches, if it resulted in an improved mobile app or online banking experience. This figure rose to over a third (39 per cent) among those aged 18 to 24.

A good banking app was considered most important by over half (58 per cent) of 18 to 24s – underlying the emphasis placed on technology by younger generations of customers.

The survey found that all respondents had experienced IT outages with their current bank in the last five months on average.

Of those who have a ‘traditional’ bank account with a High Street incumbent, one in five (17 per cent) also said they had a digital bank account with a mobile-only challenger bank, a figure which rose to over half (59 per cent) of under 35s.

A total of 37 per cent cited a good online banking service as a reason why they bank with their current provider, while 44 per cent said they had stayed due to a good all-round customer experience. Intertia was also a strong factor for customers deciding not to switch, with 39 per cent saying they had “always” been with their first banking provider.

Nearly one in five (17 per cent) believe their traditional bank feels ‘a bit old’ and they’re looking for an improved digital performance. This increased to over a quarter (29 per cent) of those aged under 35, suggesting that more young people are looking for their bank to modernise its approach.

However, whilst app-based services are creeping their way up the list of customer priorities, half said that better interest rates or services could tempt them to switch, while 47 per cent said new joiner incentives could lead them to jump ship.

Perhaps unsurprisingly, given the rise of online banking, just 10 per cent of Brits said they hadn’t visited their bank branch for over a year, however the frequency of visits rises with age, with over half (51 per cent) of over 55s having used their branch services at least once in the last month.

Derek Thompson, vice president of EMEA at Dell Boomi, said: “New players entering the market have overhauled expectations and set the new standard around the digital banking experience.

“It’s therefore critical that banks assess their current IT ecosystem, ensuring they’re not held back by their legacy infrastructure and can quickly unite their systems, deploying more agile technology to transform customer experience.”

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