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Traditional U.K. banks lagging behind challengers in offering digital banking services

A recent survey of U.K. banks has found that traditional banks are losing ground to challenger banks when it comes to digital banking services. The survey showed the surprising lack of progress traditional banks have made towards offering a 100% digital experience, with many failing to offer fast and secure digital account application and activation processes while also requiring customers to visit physical bank locations to provide identification documentation. On average, challenger banks scored an average of 9.2 (out of 15) on the digital banking services survey, while traditional banks scored only 7.

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