Financial services consumers are more likely to buy a product from
their bank or building society if they can do it direct over the phone,
according to research published this week.
The survey of 1000 adults, conducted by NOP for DMB&B Financial,
suggests that high-street financial services companies are failing to
target consumers who would buy products if they could do so from home.
It found that personal loans, Peps, home and motor insurance should be
growth areas for direct operations.
The report found that while 51% of consumers said they would take a
personal loan from a bank, 32% would only consider their bank if they
could buy direct.
In the case of Peps, 27% of people said they would use a bank, and 18%
said they would do so only if it could be done by phone.