In our recent survey, we have asked our subscribers to answer one question:
What’s the biggest problem you are facing with your bank?
We received a lot of responses from users from all continents and over 40 countries in total. Thank you!
And what they prove is that the personal finance industry has a lot to catch up on to stay relevant, reliable and trustworthy, regardless of where people are.
Technology and services
The number one problem that was highlighted in over a third of the responses we have received is the issues with banking and technology in general. A lot of our respondents highlighted that the systems in place don’t work, their payments are delayed, they have issues with international payments and often face timeouts and system maintenance issues.
Fees and charges
Following that, people mentioned the number of extortionate fees and charges for using banking services. From the results we gathered that some banks are not transparent with their fee structure, there are a lot of hidden fees and some do not communicate when the fees are being deducted and what for. Needless to mention, a lot of people pay monthly fees, transaction fees, international fees, late fees, you-name-it fees.
Another issue customers are facing is the poor quality of customer service. This not only reflects on gaps in the quality of service provided but first and foremost, it shows what users really need from their bank. Users mentioned different issues with the quality of service provided including lack of availability at all, limited availability only during working hours, lack of understanding, poor communication skills, poor choice of communication channels and lack of internal communication between the teams.
What was also surprising to see is that a lot of people do not trust their bank and their security infrastructure and often fall victims of fraud due to lack of support and protection from the bank themselves.
At Bankiom, we focus on what you need.
That means a different set of rules:
👉 A culture where your problems are our problems and we treat them with utter importance.
👉 No hidden fees.
👉 Full control over your money.
Do you agree with the results? Anything else you would like to add?
Share your thoughts on our latest Instagram post.