Digital vs Traditional

With the new advanced technology major bank such as Barclays has nourished the technology and has decided to go digital along with dissatisfied customers. The progress of moving digital can take a negative effect on customers due to poor customer service. Ultimately having a declining impact on customer satisfaction as personal relationship between the customers and the employee at the bank is descending .

However for banks according to Barclays, they can  argue that their digital banking possess over 3.4 million customer currently active online and over 1.7 million transactions are processed every day. The revamp of banks moving online and digital also sees Lloyds Bank profits rising 41% in the last quarter with over 2000 branches closing with the displeasure of some customers and their loyalty.

So what about the people that do not use technology?

One of the major issue of this topic is digital divide. More than 14 million people in the UK can refer to being digital excluded and the majority of these are elderly people. Many elderly people have never had access to a computer or a smartphone during their employment career and may not be able to afford to buy a piece of digital technology or the complications of learning how to use one this late in their life. 

Connecting older people to the world

Therefore a traditional bank with their branches in local towns allow customers like the elderly to build strong personal relationship that online banking cannot. Traditional banks can relate to Handelsbanken, their ultimate goal is to achieve higher profitability compared to their rival banks by gaining more satisfied customers. This is a bank who prefer to expand their branches rather than demolish it. 

So the problem still lies in the balance, should banks axe their branches in order to move digital or for customer's sake remain the same. Here are some customers view on this topic.