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The notion of a fintech opening a hub in a former auto garage in Berlin somehow seems to be poetic commentary on the move from the old to the new as this decade draws to an end.

Having read the article, the press release (https://relay42.com/news/press-release-half-consumers-moving-away-traditional-banking-according-relay42/), and also downloaded a copy of the full report “Creating meaningful Relationships – What customers can expect from their banks” from that link, there would appear to be inconsistencies in language and what the data is saying. 

The main issue is the notion of what is meant by “moved” and “switched” and “mobile-only solution” versus “mobile bank”.  The inference from the article / press release is that consumers are moving their accounts (current/checking) to internet / mobile only BANKS (i.e. banks which, by definition, do not have a branch presence). 

Within the press release, this is stated as:  “53% of consumers using or willing to move to an online or mobile only bank — 27% have moved already, while 26% are considering the switch”.  However, in the actual research report this is stated as “27% of all respondents told us they had already switched to an online or mobile-only solution for banking”. 

It is reasonable to assume about one quarter of consumers define their banking as “internet / mobile only” – it is a very different proposition to suggest that about one quarter have switched to an internet/mobile-only bank. Market share statistics do not support this assertion.

On sample size – a random sample of 2000 is more than a sufficient sample to make inferences about population dynamics.