Infosys: European Consumers Demand Personalized Digital Banking Experiences

Infosys provided insights into consumer banking trends across Europe. A survey cited in the report found that 82 percent of online banking users in Europe use a traditional bank as their main provider. However, 26 percent of respondents had switched banks previously due to poor digital services and would not hesitate to do so again.

The report notes that while digital channels are efficient, they are often impersonal, which has emotionally distanced consumers from their banks. A key trend is that 59 percent of European consumers want financial recommendations tailored to their individual needs, suggesting banks must improve digital service quality to retain customers.