Indian consumers prefer a digital-first approach to accessing banking services: Survey

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According to the new survey, Indian consumers prefer a digital-first approach to accessing banking services, only talking to a banking adviser by phone for more complex issues.

Indian consumers prefer a digital-first approach

The survey, 'Customer Experience in Banking', by global tech company Avaya, which covered India, Britain, Australia and the UAE with 5,000 respondents, showed that customers in India were more likely to use a mobile banking app than customers in the other three countries.

The findings reveal that, 26 percent of Indian customers prefer to access services via their bank's website, and the same number would prefer to use a mobile app rather than talk to a human agent, compared to just 19 percent in Australia, 21 percent in the UK, and 24 percent in the UAE.

"Today, customers use varied touch-points to access services, be it mobile app, website, contact centre or a physical visit to a branch," said Vishal Agrawal, Managing Director, India and SAARC, Avaya, on the results of the survey. The most important factor for Indian customers is to have issues resolved on the first point of contact, with 37 percent saying they would change banks after a bad experience, second only to the UAE.

Twenty-five percent of Indian consumers is likely to voice their complaints on social media platforms compared to 15 percent in the UK, while 44 percent would let friends and family know about their issues. "Customers today are looking for elevated and seamless services, and if they don't get them they will look elsewhere," Agrawal noted.

While 32 percent of Indian customers said they have been kept waiting on the phone for lengthy periods, which is more than any other country surveyed, 22 percent said they haven't experienced any customer service issues, the lowest in all four countries.

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