SAS study: 1 in 3 Romanians say they will give up physical interaction with banks

According to a study by SAS, a global leader in advanced data analysis solutions, approximately 30 percent of Romanians using banking services say they will give up physical interaction with the bank, continuing to permanently use the institution’s digital services or mobile application.

The study shows that in the field of bank digitalization, trends have been accelerated by the pandemic, which also reflects a new approach to how customers choose to use the services of financial institutions. For example, about 20 percent of customers in Romania started using a digital service or a mobile application for the first time during the pandemic.

At the same time, the figures show that this trend will continue and develop in the long run. If approx. 18 percent of Romanians state that they will simultaneously use digital services / mobile application and physical interactions with bank representatives, most respondents (27 percent) stated that they will completely replace physical travel to the bank with digital services.

According to the study, banks are successful in terms of feedback from customers in Romania – approx. 28 percent stated that they benefit from a higher number of personalized services and experiences compared to the period before the pandemic. 20 percent of respondents say they enjoy the facilities offered by contactless payment, and approx. 16 percent mention that they receive more personalized offers and rewards from the bank, on a regular basis. On the other hand, only 14 percent of Romanians say they enjoyed faster and more efficient customer service.

“The information that can be obtained from the data produced at each digital interaction is the key to providing customers with personalized and satisfying experiences. Customers are increasingly aware of this, they want the benefits of a seamless digital experience, which is why they are even more willing to share personal data. Banks should take advantage of this opportunity and quickly adopt the necessary technologies – advanced analytics, Artificial Intelligence – to provide intelligent banking services. According to the study, the lack of these superior customer experience services can have costly effects, as customers have clearly expressed a desire to change supplier after only one negative experience,” said Stefan Baciu, Country Manager SAS Romania.