GlobeNewswire

YouGov poll reveals UK adults are seeking innovative, digital payment experiences from their banks

Share
  • New research showcases a list of innovative ways we'd like better protection against fraud and a more active role in controlling our payment cards· Switching cards on and off for better fraud controls, quickly reactivating blocked cards and mobile app based self-service is the future

London, UK, July 16, 2018 (GLOBE NEWSWIRE) -- UK adults are ready for real-time interaction with their banks. The results of a recent YouGov survey, on behalf of Ondot, revealed today that online security and fraud prevention comes top in what Brits think banks should guarantee, with 60% wanting 'peace of mind' when using cards online. The survey also discovered that consumers are keen to play a much more proactive role in managing their personal finances.

New ways of managing their card services before, during and after a payment; how, when and where cards are used and the ability switch your card 'on' and 'off' to create extra vigilance against fraud - are all important to today's card user.

The omnibus study from YouGov on behalf of Ondot, creators of an award-winning payment card management & control mobile app, found that 3 in 10 people (30%) reported being frustrated about having card transactions being declined without notification. The same number of people (30%) also said they were frustrated by transactions being declined without any prior notification - a huge hindrance in today's 'always-on', digital world. Furthermore, almost a fifth (18%) resent having to wait for blocked cards to be replaced.

Although UK banks have come some way in recent years, new innovations in other countries have shown that cardholders prefer mobile app-based self-service over the traditional call centre methods of customer service.  Almost a third (31%) of those surveyed do not like calling bank call centres.

Cardholders also indicated that they simply want their cards to work when they most need them to. Just under half (49%) of all the respondents are looking for their banks to alert them before a card is declined and more than a quarter (27%) want transaction alerts to be displayed in real time. In addition to this, 22% want the ability to set their own transaction limits from their mobile phone app - a level of card control that is now commonplace in many countries, but presently almost unknown in the UK.

When travelling abroad, there was also a widespread desire for automating travel notifications with 30% of those surveyed preferring a mobile app to set controls for when and where they want their cards to work.

"The essence of the problem is the desire for a personalised service"  says Rachna Ahlawat, Co-Founder and EVP, Ondot Systems . "While banks in UK are responding with digital channels for account management, their customers are seeking real-time solutions for their everyday needs such as reducing friction in everyday use of cards, securing online transactions and automating travel notifications."

She continued, "Customers are looking for more innovative services and Banks need to respond by card digitization to both empower their customers, which includes card controls that allow them to better personalise, manage and control how payments are made and create new digital payment experiences in today's world of always-on digital commerce. The survey validates the need for UK consumers to benefit from what globally more than 3,000 banks are already offering to millions of cardholders - mobile-based payment card management and control."

Bill Boyle, International Banking Systems Journal, senior analyst said:

"The survey clearly indicates the need for UK cardholders to be able to better manage their payment cards, feel secure while making online payments and for their cards to 'just work' when and where they travel.

Financial Institutions elsewhere globally are already implementing solutions in response to consumer demand for 24/7, mobile-based controls for credit and debit cards, along with enhanced fraud protections and powerful payment tools. UK consumers want to be able to monitor suspicious activity, set location and spending limits on their cards and stop fraud before it impacts the account.

The on-demand reality of 24x7 instant convenience means that the banks need to embrace real-time, services to stay in the game. The survey graphically shows the direction of travel of the new empowered consumer - they want better control and they want it now." 

The survey was commissioned by Ondot, a global leader in powering mobile card management services. All figures, unless otherwise stated, are from YouGov Plc.  Total sample size was 1,997 adults Fieldwork was undertaken between; 10th-11th May 2018. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+).

ENDS

About Ondot Systems

Ondot Systems is the global leader in powering mobile payment services, serving over 3,000 financial institutions across four continents. The company's real-time card digitization platform, built upon an API based services-oriented architecture, gives financial institutions a competitive edge by increasing mobile engagement and empowering their customers to personalize, manage and control how payments are made in today's world of always-on digital commerce, resulting in higher usage of payment instruments while lowering fraud incidents. To learn how Ondot is shaping the future of payments, visit www.ondotsystems.com.

Gary Singh
ondot systems
+1 5105997758
gary.singh@ondotsystems.com

Kate Innes
Zonic Group
+44 (0)1672 550 123
kinnes@zonicgroup.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ondot Systems via Globenewswire

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Ress Life Investments A/S: Ress Life Investments A/S publishes Net Asset Value (NAV)29.5.2020 20:50:00 CESTPress release

Ress Life Investments Holbergsgade 14, 2 tv DK-1057 Copenhagen K Denmark CVR nr. 33593163 www.resslifeinvestments.com To: Nasdaq Copenhagen Date: 29 May 2020 Corporate Announcement 22/2020 Ress Life Investments A/S publishes Net Asset Value (NAV). Ress Life Investments A/S publishes the Net Asset Value (NAV) per share and performance data as of 15 May 2020. NAV per share in USD: 1955.92 NAV per share in EUR: 1811.38 The performance during the first half of May was 0.01% in USD. The year-to-date net performance is -0.15% in USD. Assets under management (AUM) was 184.6 million US dollars. Questions related to this announcement can be made to the company's AIF-manager, Resscapital AB. Contact person: Gustaf Hagerud gustaf.hagerud@resscapital.com Tel + 46 8 545 282 27 Note: The terms for subscription of shares, minimum subscription amount and redemption of shares are provided in the Articles of Association, Information Brochure and in the Key Investment Information Document (KIID) availabl

Eastern Property Holdings Limited (EPH):First quarter 2020 Financial Update29.5.2020 19:45:23 CESTPress release

29 May 2020, Road Town, Tortola, BVI KEY EVENTS In March 2020, the Company received EUR 204.7 million by issuance of subordinated notes to its two largest shareholders at an interest rate of 3.5% p.a. The management intends to use the funds for the acquisition of properties in Western Europe in order to further strengthen the Group’s business and follow its strategy to invest in premium quality income producing commercial property assets in Europe.Arbat sales have been continued: a few more apartments and parking lots were sold in Q1 2020.Leases with the Company’s top tenants (Chanel and Richemont Group) have been extended.As a subsequent event, in April 2020 the Company acquired 89.9% of interest in the Nhow Hotel in Berlin, Germany. The property had been completed in 2010 and comprises approximately 20,160 sqm, including 304 rooms, 86 underground & 39 surface parking spaces, a spa, restaurant and two music studios. FINANCIAL HIGHLIGHTS The Company’s rental properties demonstrate stab

AB Linas Agro Group performance and financial results for 9-month period of FY 2019/2029.5.2020 16:30:07 CESTPress release

Consolidated revenue was 9.6 % less and totaled EUR 476 million. Sales volume reached 1.67 million tons of various products and was 3.2% less as compared to previous year. The gross profit reached EUR 27.1 million and was 11,8 % higher than a year before. Consolidated EBITDA was 74 % higher and amounted to EUR 11.8 million. The operating profit was EUR 2.9 million (last year there was an operating loss of EUR 1.2 million). Profit before taxes amounted to EUR 0.67 million (compared to a loss of EUR 3.6 million in the previous year). Net profit attributable to the Group amounted to EUR 0.64 million (previous year there was a loss of EUR 3.5 million). A brief comment by Finance Director Mažvydas Šileika: Trade in grains, oilseeds and feedstuffs has been affected by the pandemic as the borders of the countries were closed, and the value of some stocks that haven’t been sold before quarantine has declined during the quarantine. Sales fell 16% to EUR 305 million. However, the operating profi

Conditions for Riksbank Bid Procedures SEK Municipal Bonds29.5.2020 16:20:00 CESTPress release

Bid procedure on 2 June 2020, Municipalities and Regions Bonds:Fixed-rate Bonds issued in SEK by Municipalities or Regions with maturity in 2023. The following issuers are accepted for delivery: Borås Kommun Göteborgs Kommun Jönköpings Kommun Nacka Kommun Norrköpings Kommun Skåne Läns Landsting Stockholms Kommun Stockholms Läns Landsting Sundsvalls Kommun Vellinge Kommun Delivery may not be made in Bonds purchased by the Counterparty from the issuer less than one week prior to the date for announcing the Specific terms, i.e. the purchase may not have been made after 22 May 2020.Bids:Bids are made to tel 08-696 69 70 and confirmed in writing by a filled-in Bid form by e-mail to EOL@riksbank.se.Bid date:Tuesday 2 June 2020Bid time:1000-1100 hours (CEST) on the Bid dateRequested volume: (corresponding nominal amount)SEK 750 +/- 750 millionHighest permitted bid volume: (corresponding nominal amount)The total bid volume from one Counterparty for the two Credit rating classes may not exceed