Switzerland: confidence towards banks to decrease

The Swiss have less and less confidence in the banking sector, although they are satisfied with the individual institution with which they are dealing, according to a study released today by consulting firm EY. In fact, 30% of 1,533 surveyed customers in Switzerland between January and April claims to have less confidence in the banking sector compared to twelve months earlier. The 11% has by contrast greater esteem, while 59% did not detect changes.

In addition, the Swiss are more skeptical of the global average, showing a decline of only 4 points while the biggest loss was recorded in Italy (-47 points), Sweden (-24) and Germany (-26).
"Even in the ninth year after the outbreak of the financial crisis, European customers' optimism is falling," the report's authors say.

In particular the Swiss fully trust in their bank for the safety of their money (58% against a 48% worldwide), for the protection of personal and financial information (53% / 43%), to protect against fraudulent transactions (48% / 41%), for the cost transparency (47% / 32%) and for individual advice (40% / 26%). Globally however customers are less confident increase.

In general, research shows that customers still want to interact in different ways with the counterparty: online banking is accepted, but it is still a strong desire to have contact with a person when it comes to having a consultation.

Customers are moving towards non-banks operators for the cheap rates and ease of use. Even compared to banks digital activity increases, but in Switzerland less markedly than elsewhere: online banking with smartphone is used by 25% of respondents, well below the European average (43%). Meanwhile, however, even the branches of institutions are visited less than in the past. And the customers feel that more and more often in the future you will pay with your mobile phone.