Customers say banks far to slow to respond to fraud

UK consumers are expecting that their banks respond quicker when fraudulent or suspicious activity occurs against an account according to a new survey that was commissioned by Adeptra.

The survey looked at 200 account holders in Britain with UK banks and found almost all of the respondents wished their bank would immediately notify them of any fraudulent activity on their account in no more than an hour.

Adeptra commissioned the survey in August of 2010 in order to help comprehend how consumers and banks communicated and how expectations of service are changing as technology changes consumers banking preferences.

The survey showed that most consumers wanted a more effective form of communications with four out of five of the consumers questioned stating that they would prefer if an automated message was left with them over a phone call from an outsourced employer.

Another overwhelming 94% reported that they would prefer to be contacted by automatic communication sources such as SMS, automated voice, or email if an actual live phone call from their banking institute was not an option.

Director of Global Product Strategy from Adeptra, Bill Brown, stated that technology is not always about offering a one step solution to problems, but is instead about building a strong relationship with consumers and responding to their concerns in a personalized, timely, and proper manner.  He continued to say that consumers want banks to make full use of technology so that they can get better satisfaction.