Viewpoints

It won’t come as a surprise to learn that the US is the country most targeted by fraudsters looking to steal card data, with the UK not far behind in second place.

The results of a survey released by Valassis this week revealed that almost a third of US consumers don’t feel any loyalty to their bank, with 10% of respondents planning to switch their bank within a year. Kirsty Berry, Head of Marketing & PR at Compass Plus Tecnologies, compares bank customer loyalty in the US and UK.

For traditional banks, the growth of mobile technology – and the rise of digital-only banks – is often cited as a reason for the significant rate at which their branches are closing. Since 2007, nearly 50,000 branches across Europe closed their doors for good, with banks stating that this is due to the falling number of customers using their brick-and-mortar establishments. As a result, traditional banks seem to be diverting their attention increasingly towards their digital offering, but does this shift in focus spell the end for the physical bank?