Anyone who’s used a dating app will tell you that virtual dating isn’t the same thing as meeting someone in person. Sure, you can build an emotional bond of some sort but if that online connection doesn’t translate into the real world, the relationship is over before it begins. Anyone who’s used a dating app will also tell you that apps have forever altered the experience of dating.
In the same way, the world of banking and financial services has changed dramatically in recent years. There was a time, not long ago, when interactions with a bank were largely face-to-face. The first disruption was call centers that gave us a convenient alternative, allowing us to do many things outside of branch hours. We could verify account balances, transfer money, pay bills or even discuss available home-financing options while still interacting with humans. We didn’t even need to venture outside of the house. The next disruptions came in the form of online banking, price-comparison sites, mobile apps to manage our accounts, digital wallets, robo-advice and live chat – all services that offer convenience for consumers.
Is there a real threat of a finance sector “Brexodus”?
Will the Banking & Finance Sector exit Britain post-Brexit, and what would be the consequences?
Ipsos MORI’s latest research among MPs, Business Journalists and the General Public provides warning signals in terms of perceived likelihood of the financial sector moving from the UK to the EU, and highlights the serious consequences for any banks relocating abroad.