Virtual Incentives has drawn on Ipsos MORI’s May 2016 Future of Money report to discuss expectations for digital financial services. Its August 16, 2016 commentary refers to work by Paul Stamper, then head of financial services at Ipsos MORI, on the effect of mobile access and customer demand.
The commentary cites a mobile-banking finding that the original Ipsos slide defines as 55% of UK respondents aged 16–24, including 24-year-olds. The weighted online survey covered 1,124 adults aged 16–75 on April 8–12, 2016. Virtual Incentives uses that observation to discuss demand for services that are straightforward to access and use, including receiving and redeeming electronic gift cards.
Mobile banking use by age in April 2016
Respondents reporting mobile personal banking as a channel they currently used to access their bank account.
percent
Tap or hover for details. All values are also available in the data table.
Source
UK adults aged 16–75; weighted online survey, total n=1,124, April 8–12, 2016. Age-cell sample sizes and detailed weights are not disclosed. Bank-access use, not gift-card adoption or reward redemption.
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| Category | percent |
|---|---|
| 16–24 | 55 percent |
| 25–34 | 50 percent |
| 35–44 | 37 percent |
| 45–54 | 24 percent |
| 55–75 | 14 percent |
It also highlights APIs as a way to connect digital services. Within its own platform, Virtual Incentives describes using an API to link initial implementation with personalized reward delivery.
The article interprets the report as a signal that convenience and useful functionality matter to consumers. It is a 2016 industry commentary on those findings, not evidence that Virtual Incentives itself caused growth across the financial technology sector.
In this article
Maya Bennett
Maya Bennett covers customer loyalty, employee rewards and incentive programmes for Gift Card News.