Market Research RSS Feedshttp://www.djsresearch.co.ukMarket Research RSS FeedsTue, 09 Aug 2022 00:37:57 BST 61% of financial service organisations are using AI, or plan to in the future, survey reveals 61% of financial service organisations are using AI, or plan to in the future: A recent survey into the use of artificial intelligence in financial services has revealed that over six in 10 companies in the sector are using, or are planning to use AI in the future. However, almost a third (31%) say they are still waiting for a return on their investment when it comes to AI. Furthermore, 35% said they were in a 'test-and-learn' phase of AI adoption showing room for growth in the sector. The survey, by Quantexa and AI Forum, polled 640 senior business and technology managers with most coming from North America (56%) and Europe (31%). The study aimed to understand how AI is used in companies today, and how they plan to use it in the future. When asked about the reasons for not using artificial intelligence in the near future, respondents cited 'data readiness', the 'ability to use internal and external data', and 'making AI operational' as the three main issues. The study also looked into the main uses for AI, with risk detection and customer onboarding accounting for 29% of all primary usage. Although many people are not seeing a big enough return on investment through artificial intelligence, 41% of those surveyed said their ROI was good; with 8% stating an outstanding return. Vishal Marria, Chief Executive and Founder of Quantexa, said: 'AI and technological advances such as entity resolution are helping close this data decision gap in a strategic and measured way, allowing organizations to connect siloed data to create a meaningful connected view, that directly leads to higher accuracy, productivity and ultimately trusted decision making.' http://www.djsresearch.co.uk/blog/article/61percent-of-financial-service-organisations-are-using-AI-or-plan-to-in-the-future-survey-reveals-05081 http://www.djsresearch.co.uk/blog/article/61percent-of-financial-service-organisations-are-using-AI-or-plan-to-in-the-future-survey-reveals-05081 Half of finance professionals say lack of automation is costing them money each month, according to poll Half of finance professionals say lack of automation is costing them money each month: A survey of companies with between 50 - 3,000 employees has revealed that almost half of finance and accounting professionals believe that a lack of automation is costing them time and money every month. http://www.djsresearch.co.uk/blog/article/Half-of-finance-professionals-say-lack-of-automation-is-costing-them-money-each-month-according-to-poll-05137 http://www.djsresearch.co.uk/blog/article/Half-of-finance-professionals-say-lack-of-automation-is-costing-them-money-each-month-according-to-poll-05137 Half UK adults with high-cost loans make minimum payment each month, finds survey Half UK adults with high-cost loans make minimum payment each month: A survey looking at the financial situation of people in the UK has revealed that almost half of those who have high-cost loans make only the minimum payment each month, with one in 10 saying that they are unable to afford even the minimum payment. http://www.djsresearch.co.uk/blog/article/Half-UK-adults-with-high-cost-loans-make-minimum-payment-each-month-finds-survey-05139 http://www.djsresearch.co.uk/blog/article/Half-UK-adults-with-high-cost-loans-make-minimum-payment-each-month-finds-survey-05139 27% of people in UK struggling financially as a result of rising cost of living, finds survey 27% of people in UK struggling financially as a result of rising cost of living: A survey has revealed that as the UK feels the impact of the cost of living crisis, 27% of people report that they are already struggling to make ends meet as inflation rises to its highest level in nearly 30 years. http://www.djsresearch.co.uk/blog/article/27percent-of-people-in-UK-struggling-financially-as-a-result-of-rising-cost-of-living-finds-survey-05076 http://www.djsresearch.co.uk/blog/article/27percent-of-people-in-UK-struggling-financially-as-a-result-of-rising-cost-of-living-finds-survey-05076 Two-thirds of Brits, who took early retirement, report increased happiness since making the decision to leave employment, reveals survey Two-thirds of Brits, who took an early retirement, report increased happiness since their decision to leave employment: A survey by Aviva has revealed that just over 66% of early retirees say they feel happier since leaving their job. Furthermore, one in five said they feel the age of 55 is the right age to retire as they can gain access to their pension savings. Furthermore, half of those surveyed stated an improvement to their physical wellbeing as a result of retiring, with 57% saying the same about their mental wellbeing. The study polled 2,000 British adults to find patterns in when and why people choose to retire. The survey also found that just over a quarter (26%) made the decision to retire when they felt financially stable enough to do so. Furthermore, 22% of respondents said they felt retirement helped them become more financially stable, with a further 33% stating that having a defined benefit pension enabled them to retire when they did. On the other hand, 47% saw a decrease to their finances as a result of taking an early retirement, with half of women stating they took a financial hit when they retired. In contrast, just 44% of men reported a decrease in wealth after retirement. Currently, the UK state pension age is 66, however many people said they are comfortable to retire before then. It is also estimated that the state pension age will go up to 67 before the year 2030, and could be as high as 69 by the middle of the century. Alistair McQueen, head of savings and retirement at Aviva, said: 'It's important to learn from the lesson that, while happiness soars in retirement, many people find their finances take the strain when they retire early. If you aspire to retire early, it's vital you plan your finances to be sustainable for the long-term.' http://www.djsresearch.co.uk/blog/article/Two-thirds-of-Brits-who-took-early-retirement-report-increased-happiness-since-making-the-decision-to-leave-employment-reveals-survey-05003 http://www.djsresearch.co.uk/blog/article/Two-thirds-of-Brits-who-took-early-retirement-report-increased-happiness-since-making-the-decision-to-leave-employment-reveals-survey-05003 43% of Britons would be highly interested in embedded property insurance, reveals survey 43% of Britons would be highly interested in embedded property insurance: A survey has found that 43% of banking customers would by highly interested in bank-embedded offers in the property sector, with a further 28% stating their support for the embedded offers in travel insurance. The survey was commissioned by Momentive.ai to understand the opinions of bank and online banking customers on proposed embedded insurance offers. More than 500 bank customers in the UK were polled, uncovering an increasing amount of support for bank-embedded insurance offers in the automobile sector (26%), with 43% also stating they would be interested in embedded offers for high-value personal and household items. When asked about whether they would be interested in bank-embedded offers based off their transaction data, 71% stated they would support the idea. Furthermore, 64% of traditional bank customers would also be interested in embedded offers in relation to their transactions. When questioned about the reason for their decision, 49% stated convenience as the main motive. Three quarters of customers who use mobile wallets would be highly interested in receiving insurance offers from their banks. In addition, 89% of both 'buy now pay later' loan users and small business owners would also like to receive insurance offers; with 79% of people who chose to use investing apps or accounts feeling the same. The study also found that eight in 10 of those who chose a traditional insurer or broker in the last year would prefer it if they were offered bank-embedded offers next time. A similar study was conducted in America of over 3,500 participants, which found a correlation between certain life events (such as the birth of a child and the purchase of property or car) and the opinions participants had about bank-embedded insurance offers; the amount of people in support of receiving these offers would increase when drastic changes occur in their lives. http://www.djsresearch.co.uk/blog/article/43percent-of-Britons-would-be-highly-interested-in-embedded-property-insurance-reveals-survey-04928 http://www.djsresearch.co.uk/blog/article/43percent-of-Britons-would-be-highly-interested-in-embedded-property-insurance-reveals-survey-04928 Four in 10 UK adults say they are not saving enough money for a comfortable retirement, survey reveals Four in 10 UK adults say they are not saving enough money for a comfortable retirement: A recent survey by Wealth at Work has uncovered that 41% of UK adults are aware that the money being put into their pension, is not enough for them to be able to enjoy a comfortable retirement. The study polled over 1,000 British working adults and found that 63% believe their financial knowledge is either 'excellent' or 'above average'. Furthermore, a quarter said their financial ability was 'excellent', with a further 38% claiming it to be 'above average'. A third of participants said their financial ability was 'average' with just one in 20 admitting their knowledge is 'below average'. When asked about the money being put into their pension, 16% said they didn't know if they are permitted to put extra money into their workplace pension. Furthermore, 12% are unsure how much they are putting into their pension, with 14% saying they do not know how much their employer contributes. The survey also looked into whether people know how they are going to spend their retirement money and uncovered that 11% will have to withdraw from their pension as soon as they retire. Furthermore, 7% said they will take out the same amount of money each month when they retire, with just one in 20 saying they will take out all their pension in one go. Many of the participants were aware that they might not receive their pension, with one in 10 saying if their employer goes bust, they will lose their money. In addition, 7% said they will lose all of their money if they die before they reach retirement. Jonathan Watts-Lay, director for Wealth at Work, said: 'Many companies are now seeing the benefit of sourcing specialist financial wellbeing provides to help employees improve their financial future, covering everything from debt and money management through to optimising employer sponsored benefits and retirement.' http://www.djsresearch.co.uk/blog/article/Four-in-10-UK-adults-say-they-are-not-saving-enough-money-for-a-comfortable-retirement-survey-reveals-04997 http://www.djsresearch.co.uk/blog/article/Four-in-10-UK-adults-say-they-are-not-saving-enough-money-for-a-comfortable-retirement-survey-reveals-04997 Banks believe cyber attacks will have greatest impact on UK financial system, according to survey Banks believe cyber attacks will have greatest impact on UK financial system: A new survey by the Bank of England has revealed that amongst the banks and financial institutions polled, cyber attacks ranked highest when it comes to the risk that stands to have the greatest impact on the UK's financial systems, with almost three-quarters citing it as an issue (74%) http://www.djsresearch.co.uk/blog/article/Banks-believe-cyber-attacks-will-have-greatest-impact-on-UK-financial-system-according-to-survey-04963 http://www.djsresearch.co.uk/blog/article/Banks-believe-cyber-attacks-will-have-greatest-impact-on-UK-financial-system-according-to-survey-04963 Seven out of 10 consumers prefer 'Buy Now Pay Later' to credit cards, finds survey Seven out of 10 consumers prefer 'Buy Now Pay Later' to credit cards: A survey of UK consumers has revealed the increasing popularity of Buy Now Pay Later (BNPL) options when buying products, with seven out of 10 saying they prefer this method to credit cards. Just over a third (35%) said they tried this payment method for the first time during the Covid-19 crisis, while more than half (54%) said that BNPL will replace their credit card. http://www.djsresearch.co.uk/blog/article/Seven-out-of-10-consumers-prefer-Buy-Now-Pay-Later-to-credit-cards-finds-survey-04953 http://www.djsresearch.co.uk/blog/article/Seven-out-of-10-consumers-prefer-Buy-Now-Pay-Later-to-credit-cards-finds-survey-04953 Nearly two-thirds of Brits believe that lenders don’t consider whether an applicant has had help from the furlough scheme, according to survey Nearly two-thirds of Brits believe that lenders don't consider whether an applicant has had help from the furlough scheme: A recent survey has found that 64% of Britons believe that lenders will not consider the help that people have been given from the furlough scheme during the pandemic when it comes to their suitability for a mortgage. Furthermore, 42% of those surveyed believe that being self-employed is not typically something that is considered by lenders when applying for a mortgage. The study of 2,000 British adults was commissioned by NerdWallet in response to reports that some large high street banks have refused mortgage applications to people if they were self-employed or had received help from the government during the Covid-19 crisis. In addition, two thirds of 18-34-year-olds were of the opinion that mortgage lenders would not consider whether their applicant had benefited from the furlough scheme, with men being 9% more likely to think this than women. When asked about whether they felt they could secure a decent mortgage, over three-quarters said they felt they lacked the knowledge to make an informed decision. Furthermore, eight in 10 stated they would lack confidence in identifying poor advice given to help them, with 31% saying they would not trust what they read online regarding mortgage advice. The survey also found that only 22% of 18-54-year-olds, including just 15% of 18-25-year-olds, knew about a government-backed mortgage guarantee scheme, which could apply to them. A further 78% of working age adults stated that they did not know of any help that could aid them when buying a property. Richard Eagling, senior mortgage expert at NerdWallet, said: "Many people have underestimated the impact of being furloughed or accessing self-employed Covid grants on their ability to get a mortgage. A lender will always determine the risk level that a mortgage applicant presents and whether they can afford the repayments, and it seems that many lenders are excluding furloughed income when assessing affordability.' http://www.djsresearch.co.uk/blog/article/Nearly-two-thirds-of-Brits-believe-that-lenders-dont-consider-whether-an-applicant-has-had-help-from-the-furlough-scheme-according-to-survey-04951 http://www.djsresearch.co.uk/blog/article/Nearly-two-thirds-of-Brits-believe-that-lenders-dont-consider-whether-an-applicant-has-had-help-from-the-furlough-scheme-according-to-survey-04951 One in five Brits are confident they have enough equity for retirement, reveals poll One in five Brits are confident they have enough equity for retirement: A survey of UK adults has revealed that just 1 in 5 are confident they have enough equity to sustain them in the later years of their lives, with research also revealing a lack of financial planning for many Brits. http://www.djsresearch.co.uk/blog/article/One-in-five-Brits-are-confident-they-have-enough-equity-for-retirement-reveals-poll-04910 http://www.djsresearch.co.uk/blog/article/One-in-five-Brits-are-confident-they-have-enough-equity-for-retirement-reveals-poll-04910 Two-fifths of people are concerned about pressure to socialise post lockdown due to financial restrictions, finds survey Two-fifths of people are concerned about pressure to socialise post lockdown due to financial restrictions: As the UK begins to open up again following the third national lockdown, a survey has found that 38.1% are feeling 'concerned' over pressure from friends and family to go out and socialise one again when they can't afford to do so. http://www.djsresearch.co.uk/blog/article/Two-fifths-of-people-are-concerned-about-pressure-to-socialise-post-lockdown-due-to-financial-restrictions-finds-survey-04850 http://www.djsresearch.co.uk/blog/article/Two-fifths-of-people-are-concerned-about-pressure-to-socialise-post-lockdown-due-to-financial-restrictions-finds-survey-04850 27% of recent homebuyers say saving during lockdown has helped them get on property ladder 27% of recent homebuyers say saving during lockdown has helped them get on property ladder: When we think of the last year and the chaos that Covid-19 has wreaked the world over, it may be hard to believe there have been many positive outcomes. http://www.djsresearch.co.uk/blog/article/27percent-of-recent-homebuyers-say-saving-during-lockdown-has-helped-them-get-on-property-ladder-04844 http://www.djsresearch.co.uk/blog/article/27percent-of-recent-homebuyers-say-saving-during-lockdown-has-helped-them-get-on-property-ladder-04844 More than half UK adults do not trust financial advisers, reveals survey More than half UK adults do not trust financial advisers: A survey of UK adults has found that more than half (57%) do not trust independent financial advisers, with the figure becoming even greater amongst those aged 55 and over (65%). http://www.djsresearch.co.uk/blog/article/More-than-half-UK-adults-do-not-trust-financial-advisers-reveals-survey-04830 http://www.djsresearch.co.uk/blog/article/More-than-half-UK-adults-do-not-trust-financial-advisers-reveals-survey-04830 Nearly 4 in 10 UK adults keep 'money secrets' from friends and family, reveals survey Nearly 4 in 10 UK adults keep 'money secrets' from friends and family: A poll of people in the UK has revealed that almost four in 10 are keeping 'money secrets' from loved ones, including credit cards and loans, as well as debt problems. http://www.djsresearch.co.uk/blog/article/Nearly-4-in-10-UK-adults-keep-money-secrets-from-friends-and-family-reveals-survey-04750 http://www.djsresearch.co.uk/blog/article/Nearly-4-in-10-UK-adults-keep-money-secrets-from-friends-and-family-reveals-survey-04750 88% of consumers would be happy getting remote advice from their financial advisor, reveals survey 88% of consumers would be happy getting remote advice from their financial advisor: A survey has given insight into how consumers would prefer to engage with their financial advisor in the wake of the coronavirus pandemic. http://www.djsresearch.co.uk/blog/article/88percent-of-consumers-would-be-happy-getting-remote-advice-from-their-financial-advisor-reveals-survey-04704 http://www.djsresearch.co.uk/blog/article/88percent-of-consumers-would-be-happy-getting-remote-advice-from-their-financial-advisor-reveals-survey-04704 Survey reveals 4 in 10 workers are relying on new loans, credit cards or overdrafts to make ends meet due to pandemic Survey reveals 4 in 10 workers are relying on new loans, credit cards or overdrafts to make ends meet due to pandemic: A survey of UK workers has revealed that 40% are relying on at least one credit card, overdraft, or loan to get by. http://www.djsresearch.co.uk/blog/article/Survey-reveals-4-in-10-workers-are-relying-on-new-loans-credit-cards-or-overdrafts-to-make-ends-meet-due-to-pandemic-04720 http://www.djsresearch.co.uk/blog/article/Survey-reveals-4-in-10-workers-are-relying-on-new-loans-credit-cards-or-overdrafts-to-make-ends-meet-due-to-pandemic-04720 Workers on furlough three times more likely to have missed payments in last month, according to survey Workers on furlough three times more likely to have missed payments in last month: New research from Which? has revealed that people who have been furloughed by their employer, have had their hours reduced, or have been put on enforced leave are more likely to have missed at least one payment in the last month (13%), compared to just 4% of those who have continued to work as normal. http://www.djsresearch.co.uk/blog/article/Workers-on-furlough-three-times-more-likely-to-have-missed-payments-in-last-month-according-to-survey-04693 http://www.djsresearch.co.uk/blog/article/Workers-on-furlough-three-times-more-likely-to-have-missed-payments-in-last-month-according-to-survey-04693 Nearly three-quarters of banks have become 'more innovative' due to Covid-19, reveals survey Nearly three-quarters of banks have become 'more innovative' due to Covid-19: A survey of more than 250 senior executives from UK retail, commercial and investment banks has found that 72% have grown more innovative in 2020 as a result of changes due to Covid-19. http://www.djsresearch.co.uk/blog/article/Nearly-three-quarters-of-banks-have-become-more-innovative-due-to-Covid-19-reveals-survey-04710 http://www.djsresearch.co.uk/blog/article/Nearly-three-quarters-of-banks-have-become-more-innovative-due-to-Covid-19-reveals-survey-04710 A third of homeowners who have remortgaged have used extra cash for home improvements, reveals survey A third of homeowners who have remortgaged have used extra cash for home improvements: A survey of homeowners has found that a third of those who have remortgaged their homes in the last two years have used the extra cash to fund home improvements and increase their property value. http://www.djsresearch.co.uk/blog/article/A-third-of-homeowners-who-have-remortgaged-have-used-extra-cash-for-home-improvements-reveals-survey-04714 http://www.djsresearch.co.uk/blog/article/A-third-of-homeowners-who-have-remortgaged-have-used-extra-cash-for-home-improvements-reveals-survey-04714