20 Percent of UK Consumers are Looking for a New Savings Account

A new survey by Deposit Solutions says 20 percent of UK consumers are considering a savings account switch; 17 percent of consumers are considering a current account switch within the next year; savings accounts act as a gateway for a deeper financial relationship; 61 percent of UK consumers said they were likely to consider their current or savings account provider for new products; digital banks need to ensure they are offering products that are appealing beyond interest rates; key factors consumers care about include easy account access, better reputation than current provider  and incentives like gifts and cash back. Business Insider.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.