News Column

United Kingdom : Digital banking saves 96 million hours a year

June 7, 2014



Customers at NatWest and Royal Bank of Scotland are saving 96 million hours and making 48 million fewer journeys every year thanks to the rise in popularity of new banking technology.

More than 4 million of the banks customers make an average of four basic online transactions every month that previously would have required a visit to their local branch.

Customers who now do those same transactions on their phone, tablet or computer are saving an average six mile round trip to their bank branch. That is more than 24 million miles saved every year in total - enough to circle the globe 963 times and the equivalent of 3m in fuel.

Customers are also saving up to two hours of their time every month by using mobile and online services to keep on top of their finances. Mobile app

Nearly 170,000 of RBS and NatWest s customers use the mobile app between 7am and 8am on their commute to work every day, making the morning train the busiest branch there is.

The banking app is more popular than ever, with stats showing that usage on Friday 30 May made it the busiest day ever. The app had 3.65 million log ins, up 4% on the previous peak day of 28 February 2014, and 700,000 pay ins, up 5% on 28 February.

The busiest time for logins on that day was 08.06am, which saw 5,800 people logging into the app at the same time, while the busiest time for payments was 07.17 which saw 1,300 payments being made at the same time.

Les Matheson, CEO of Personal & Business Banking for RBS & NatWest said: Over time, new technology has made managing our finances possible 24 hours a day wherever we are. Many transactions that involved planning a visit to a branch 20 years ago can now be done instantly from a device in your pocket, on the move or from the comfort of your own home.

I m delighted that relatively new services like our award-winning mobile app are allowing our customers to save valuable time and that we are providing an unprecedented range of choices to make banking simpler and easier.

The banks are investing 750m across the UK over the next three years to improve the way they serve customers, including branch refurbishments, installation of WiFi across the network, investment in digital banking and upgrading the ATM network. Earlier in the year it was also announced that, from September, NatWest and RBS customers will be able to do more of their banking from any of the UK s 11,500 post offices, creating even more choice for customers.


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Source: TendersInfo (India)


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