A survey by YouGov on behalf of Ondot Systems has revealed that customers were interested in taking more control in managing their personal finances. 

This included being able to manage their card services before, during and after a payment and being able to switch a card ‘on’ or ‘off’ to be more secure against fraud.

Almost 2,000 people took part in the survey, which also found that nearly half of Brits (49%) wanted their banks to alert them before a card is declined, while 27% wanted transaction alerts in real time.

In addition, over a fifth of customers (22%) wanted the ability to set their own transaction limits from their phone.

Mobile app-based self-service was preferred over call centres, with 31% of respondents stating that they did not like contacting bank call centres.

Rachna Ahlawat, co-founder and EVP at Ondot Systems (pictured above), said the essence of the problem was the desire for a personalised service.

“While banks in [the] UK are responding with digital channels for account management, their customers are seeking real-time solutions for their everyday needs, such as reducing friction in everyday use of cards, securing online transactions and automating travel notifications.

“Customers are looking for more innovative services and banks need to respond by card digitisation to both empower their customers – which includes card controls that allow them to better personalise, manage and control how payments are made – and create new digital payment experiences in today’s world of always-on digital commerce. 

"The survey validates the need for UK consumers to benefit from what globally more than 3,000 banks are already offering to millions of cardholders: mobile-based payment card management and control.”