Deloitte study claims just 34% of banks have implemented digital account opening

A new study from Deloitte claims that 34% of banks have implemented digital account opening as a result of the coronavirus pandemic.

It also claims that 25% of banks have implemented remote identification and verification, and just 18% have incorporated contactless payments. With the pandemic putting increased onus on digital interactions, these percentages would have been expected to be higher.

The report also claims that 60% of banks have closed or shortened opening hours of their branches.

Digital Banking Maturity 2020 is Deloitte’s fourth edition and explores what companies are doing with digitalisation efforts.

Its investigation received responses of 318 banks from 39 countries.

Some of the other findings of the investigation include, challenger banks are quicker to adopt new trends than incumbents. One example it states that 27% of challengers have bill split tools compared with 2% of incumbents.

Read the full report here.

Copyright © 2020 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.