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Cisco Customer Experience Research

Retail Banking Results India Data

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1,514 End-user respondents

405 Retail Banking Professionals

10 Countries

3 age groups…

18–29

30–49

50+

Generation Y/Millennial

Generation X

Baby Boomers

Brazil, Canada, China,

France, Germany, India,

Japan, Russia,

United Kingdom,

and United States

* Insight Express

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want advisors with the right skills to handle their needs 63%

Competent

Top attributes consumers want from their banks

want access whenever they need it

want streamlined interaction and communications

80%

81%

Available

Efficient c

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Exchanging personal information in return for valuable services

92% value identity theft security

95% value increased savings

89% value financial education

72%

63%

would provide more personal info to simplify management of finances

believe banks know enough to offer personalized services

Know Enough About Me

Make It Easier

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Interest in receiving financial services recommendations and advice

are comfortable receiving financial recommendations or advice based on location data from their mobile phone

88%

would receive real-time notifications that assisted with financial or purchase decisions

71%

Advice in Real-Time

Advice Based on My Location

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Trust in banks to keep personal information in the vault

would not want bank to share personal information outside the bank 55%

would provide a fingerprint in exchange for protection against identity theft 88%

Protect Against Dangers

Keep Personal Information in Vault

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c

Flexibility in access to financial services and experts

are comfortable

getting/closing a loan over virtual communications

are comfortable

opening an account with an online bank

72%

71%

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High touch valued—even over virtual channels

with 54% of consumers

prefer using a computer

Consumers willing to video chat with a Financial Advisor 72%

70%

However…

Bankers believe consumers are

willing to video chat

c

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• Consumer desire pervasive access to banking services

• Consumers willing to exchange private information for more personalized services

• Virtual channels expanding beyond transactions to high touch interactions

• Future banking services will combine high tech and high touch across all delivery channels

Thank you.

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Q29. What category do your finance or banking applications fall into? (Select all that apply)

A/B/C/D/E/F/G/H/I/J = Significantly larger than the corresponding subgroup at the 95 % c-level.

Among Consumers %

BRA (n=85)

C

FRA (n=67)

D

UK (n=56)

E

DEU (n=51)

F

RUS (n=83)

G

IND (n=82)

H

CHN (n=137)

I

JPN (n=29)

J

Account monitoring 46 82

ABCGHIJ 66 AC 69 ABCH 55 49 56 59

Bill payment reminder 32 D 12 21 16 34 DF 66 CDEFGJ 73

ABCDEFGJ 14

Stock exchange tracking 24 22 20 20 16 40

ACDEFGJ 66

ABCDEFGHJ 14

Credit score monitor 20 D 4 11 6 14 17 D 42

ABCDEFGHJ 10

Debt payoff planner/tracker 20 DEF 6 4 4 12 13 23 DEF 7

Retirement savings or pension fund tracker 5 9 7 4 14 6 26

ABCDEFHJ 3

Most consumers who have banking apps indicate they are for account monitoring purposes and about half indicate they are for money transfer or remittance. More than 1 in 4 consumers in India and the US indicate using a mobile check book.

Among Financial Services

Decision Makers

%

BRA (n=42)

C

FRA (n=40)

D

UK (n=40)

E

DEU (n=40)

F

RUS (n=42)

G

IND (n=40)

H

CHN (n=41)

I

JPN (n=40)

J

Account monitoring 21 53 C 53 C 60 C 71 C 60 C 59 C 63 C

Bill payment reminder 19 35 J 43 CJ 53 CJ 57 CJ 78 CDEFJ 61 CDJ 8

Stock exchange tracking 21 40 J 30 20 40 J 48 CFJ 59 CEFJ 13

Debt payoff planner/tracker 17 28 20 28 36 20 22 15

Credit score monitor 12 30 33 CGH 28 12 10 46 CGH 23

Retirement savings or pension fund tracker 14 15 35 GJ 28 10 25 37 CGJ 10