Adoption of Virtual Banks and Insurers

Adoption of Virtual Banks and Insurers 46 Survey Findings Virtual banks and insurers offer a more user-friendly online interface A feature to promote virtual banks and insurers to customers is their eye-catching and user-friendly online platforms. The target customers of virtual banks and insurers are those who are mobile and Internet savvy. For this group of customers, convenience and user experience are important criteria in adopting these new entries. Respondents were asked if they agreed that virtual banks and insurers offer a more user-friendly online interface (Internet and mobile) to their customers. The majority of respondents agree (33.3%) or totally agree (12.5%) that virtual banks and insurers outperform incumbents in terms of digital experience. Most agree virtual entries provide more user-friendly online platforms. Exhibit 20 Virtual banks and insurers offer a more user-friendly online interface [1 - Totally Disagree ...... 5 - Totally Agree]