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Future of banking in the UK

A customer insight report


With fast-paced digital technologies transforming traditional banking, we are embarking on a decade of banking revolution. The lines are constantly getting blurred between banks and non-banks offering financial services.

This report presents an analysis of the changing consumer behaviour which is driving choice of banking services provider. We gathered views from a representative sample across the country and analysed the results with our team of Financial services experts.

59% expect the UK to become a cashless society by 2030 and 23% think that bank branches would still exist at that time. 


Banks investing in data security and robust digital platforms will have an edge.

16% of younger respondents expect an AI-driven banking experience will transform the way they make decisions.


Banks innovating hyper-personalised services with new tech will thrive.

52% believe every adult should have the right to basic banking services and 64% thought financial education is important.


Socially inclusive banks with sustainable practices are likely to be more trusted.

Download the report


Speak to our experts


Phil Hingley

Phil Hingley

Director of Financial Services, UK


Phil leads the Financial Services portfolio at ThoughtWorks UK and has over 25 years of industry experience. He has worked with global banking, insurance and investment companies to drive digital transformation initiatives, expand business lines, unlock value from legacy technologies and implement agile business processes.


Phil has also worked with European agencies to help set industry standards for adoption of technologies such as Cloud, AI and Cyber-security.

Isa Goksu

Isa Goksu

Director of Technology, Financial Services, UK


Isa is a financial services domain expert and a passionate technologist with over 20 years of experience. Spearheaded several challenging and rapidly evolving distributed teams with agile engineering practices. Follows a tech-agnostic approach to solve enterprise level problems and applies evolutionary architecture principles to deliver value on time.


Led major transformations from data strategy to data engineering. Developed AI-based algorithms for financial institutions and was instrumental in building the core trading engine of the Istanbul Stock Exchange.

Get in touch with us: info-uk@thoughtworks.com

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