NCR research: UK consumers remain cautious about sharing their data despite banking industry’s efforts to embrace innovative, data-driven services

LONDON, 2017-Nov-28 — /EPR Retail News/ — New research from the global leader in omni-channel solutions, NCR Corporation (NYSE: NCR), has revealed that despite the banking industry’s efforts to embrace innovative, data-driven services, UK consumers remain cautious about sharing their data. These findings are particularly striking in the face of PSD2 (Second Payment Services Directive), which will open up banks’ data and infrastructure to a wider ecosystem.

A survey of more than 1,000 UK adults ages 16 and older* has found that nearly half of respondents (47 percent) with personal bank accounts would only feel comfortable with banks collecting the bare minimum of data required to run their accounts. At the same time, 91 percent of respondents agreed that banking services should be innovative and modern, revealing a disconnect between consumers’ lack of trust in sharing data, and the desire for more innovative services from their banks.

The research identified three key findings which highlight the growing consumer demand for personalized service that makes banking easier and more relevant. About half of the survey respondents (49 percent) were interested in banking loyalty programs in partnership with retailers requiring third-party data sharing. 46 percent were open to financial advice services that keep track of their spending information to help save money, while 39 percent would consider using a service prompting them when an important personal event, such as a loved one’s birthday or an anniversary, is approaching.

The survey also showed that security remains a trust factor between the consumer and their bank. It needs to be not only robust but also a seamless part of the consumer-bank interaction. More than half of respondents (58 percent) would be interested in using biometric authentication methods like fingerprint, iris, or voice authentication. For 52 percent of them the primary appeal is that they feel it would make banking more secure. But the interfaces used to connect these to the banking environment come from third parties. Most strikingly, a third of respondents (33 percent) explicitly stated they either currently conduct banking transactions using a digital personal assistant like Amazon’s Alexa or Apple’s Siri, or would like to in future. The use of digital personal assistants could require hosting customer data on third-party infrastructure.

“As consumers increasingly look beyond traditional banking services, it is important for banks to reassure consumers that their personal data will be protected and safe,” said Joe Gallagher, vice president & general manager of Self Service & Branch at NCR Corporation. “It is vital that consumer data will be used in a way that they are happy with, especially as third-party technology increasingly plays a role in the banking innovations they expect.”

NCR works with banks on a daily basis to help them provide seamless omni-channel services that put customers at the heart of the banking experience by bringing together the various processes involved in acquiring, authorizing and routing payments, enabling them to quickly introduce new services with the highest security standards.

About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in omni-channel solutions, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables nearly 700 million transactions daily across the financial, retail, hospitality, travel, telecom and technology industries. NCR solutions run the everyday transactions that make your life easier. NCR is headquartered in Duluth, Ga., with about 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries. NCR encourages investors to visit its website which is updated regularly with financial and other important information about NCR.

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Ortrud Wenzel
NCR Public Relations
+49 821 405 8191

Source: NCR Corporation

BRC Director General Helen Dickinson: UK consumers are making greater use than ever of handheld devices to shop online, particularly where it comes to buying clothes

LONDON, 2015-4-27 — /EPR Retail News/ — Helen Dickinson, Director General, British Retail Consortium, said: “The latest BRC-Google figures show that UK consumers are making greater use than ever of handheld devices to shop online, particularly where it comes to buying clothes. The number of people using their smartphone to search for apparel is up by 54 per cent compared to year ago, while tablet searches over the same period are up by 11 per cent.

“British shoppers are also increasingly looking abroad as well as at home to buy their clothes, with a 9 per cent rise in consumers searching online for overseas clothes retailers. This trend also applies however to shoppers abroad with a 10 per cent rise compared to last year in the number of consumers in other countries searching online for UK apparel.”

Peter Fitzgerald, Retail Director, Google, said: “Mobile continues to drive growth in the UK and this remains the case with apparel in the first quarter of the year. Interestingly, emerging markets still see strong growth from tablets, however smartphones supercharge growth for overseas consumers of UK brands.

“Multichannel retailers had a strong Q1, growing at 42% YoY. This reflects the increasing trend we see in the UK toward click-and-collect services. Consumers value the convenience of in-store collection, and particularly for apparel, the ability to easily return goods to store.

“Finally, the New Year saw an increase in sports and fitness apparel searches as Brits turn over a new leaf and focus on their health. Looking at the top queries we can see that wedding season is under way with engagement rings and wedding dresses trending on mobile devices.”

British Retail Consortium, 21 Dartmouth Street, Westminster, London, SW1H 9BP. 020 7854 8900.