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Banking on Banks 2023 Report. Why banks and lenders must look beyond the cost of living crisis to meet the changing needs of Europeans
As a follow-up to the widely acclaimed Banking on Banks 2022, the 2023 edition uncovers the changing landscape of European banking in the face of the current economic upheaval.
Over the past year, we've delved into the profound impacts that rising inflation and prices have had on people's lives, their financial priorities, and the shifts in their relationship with financial institutions.
By analysing the opinions and experiences of thousands of Europeans from six major markets, we reveal the steps taken by individuals to manage their finances, how they've altered their spending habits, and how financial providers have responded to these challenges
- Four in five Europeans still have concerns about their finances over the next 12 months
- Europeans have said they would now be prepared to share their financial data if it helped them to avoid financial difficulty or achieve their financial goals
- A number of key areas in which banks and other financial providers must continue to improve, including enhancing their digital solutions
- ESG considerations are now more front of mind for European consumers
- Two-thirds are more likely to bank with a company that is transparent about its operations