The survey demonstrates a high reliance on financial providers with a branch network, with 97% of the population having their main current account with the retail banks, a credit union or An Post. 1 in 10 have their main current account with Ulster Bank and or KBC, banks that will be leaving the Irish market shortly. While just 1% have their main current account with a FinTech provider, almost 1 in 5 use a FinTech provider at least occasionally.
While the survey demonstrates that the population as a whole has adopted to a more digital banking experience, we still see a strong reliance on the branch network among those over 54 years and especially among those aged 65 years or older.
Cards are now the most dominant payment in-store but we still see 1 in 5 preferring cash payments, this is higher in the older age cohorts.
