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Access to Cash

UK Business and Retail Banking Provider

The Challenge

Our client wished to ensure a long-term solution could be developed in order to meet the needs of a varied customer group, including those who are reliant on cash such as businesses in cash heavy sectors and vulnerable consumers.

Research would provide a clear roadmap to inform a long-term model for sustainable cash access in the context of legislation, wider industry activity, and branch strategy. It was important to uncover actual behaviours and expectations, drivers and barriers to cash use, and test proposed channels for cash access the bank was looking to implement.

Our approach

We undertook a quantitative approach in order to achieve robustness of data which would direct decision-making, and validate our client’s hypothesis.

The research took the form of 2x 15-minute online surveys, one nationally representative consumer survey of 2,000 UK adults, and another with 600 UK SMEs. We also conducted a CATI survey among 300 vulnerable consumers (had to be digitally excluded, be on a low income, or have low educational attainment).

The outcome

The research was able to uncover current levels of cash usage and acceptance, and demonstrated business and consumer preferences for deposit and withdrawal channels. We were also able to relay recommendations for future cash access solutions based on customer preferences.

This research went onto inform our client and their stakeholders on direction for their long-term cash access strategy.

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