If Apple Offered Banking, 1 in 10 Would Use It

One in ten consumers would consider letting Apple handle their banking needs, a new survey shows.

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    For consumers who already buy from Apple, that number increases to 43 percent, the survey shows.

    The survey queried 5,000 U.S. and U.K. consumers about their opinions on a rather specific subject: Apple as a bank. Of the respondents located in the U.S., 23 percent currently rely on Bank of America for banking; a combined 32 percent of U.K. respondents currently use Lloyds or Barclays.

    Of the roughly 500 respondents who said they would consider using Apple for banking, nearly two-thirds cite trust in Apple as a main reason for considering a switch. More than half of respondents said they would expect Apple to make bank accounts easy to access and manage, and provide reliable service, a release explains.

    “This research tells us Apple customers perceive a fit where at first glance we would assume the brand could not travel,” said Lee Powney, Chief Commercial Officer at KAE.