Almost half (45%) of those with online savings believe they will manage them online even once the lockdown for the Coronavirus pandemic is over, according to new research.
According to the research by asset manager Investec, 21% of those looking to manage their savings online said that during the pandemic they started to use digital services to manage their money for the first time and have now gotten used to them.
Almost 4 in 10 (38%) said they used digital services before the crisis but have been using them more single lockdown and will continue to do so afterwards.
A similar number (41%) said they wanted to use digital services to manage their money more as they want to visit in person less often to reduce their chances of catching Coronavirus.
Linda Brown, head of savings at Investec, said: “The use of digital services to manage savings and money has been increasing for years, but our research suggests that the Coronavirus crisis has turbo-charged this trend. More people have been forced to use banking apps and other digital services and appreciate the benefits they offer in terms of time saved, and have become more comfortable using them.”
Separate research from fintech company Nucuro showed that around 12% of British adults downloaded their bank’s app for the first time between 14th March and 14th April. In the research and additional 22% of UK adults were using their bank’s app more during the same period.
