32% say their bank don't support them enough with the cost of living 

The research found that over half (54%) find it challenging to save money due to the high cost of living. 
 
An additional 31% of those surveyed feel overwhelmed when budgeting and assessing their personal finances, although this figure rises sharply to 52% amongst those aged 18-34. 
 
Overall, 41% have dipped into their savings to help make ends meet. However, just 32% believe their bank is providing enough support to help them manage their finances.
 
Despite the strain on their personal finances, only 44% have visited their bank branch in person within the last 12 months.  
 
Of the 544 respondents who said they use fintech to help them manage their finances, more than half (56%) said they have opened a new bank account or taken out a new financial product entirely online within the same 12-month period, without speaking to or visiting a bank or provider. 
 
When asked about how they choose their banking providers, 55% said they base their decision on rates and incentives compared to other providers, while 43% choose their banks based on the quality and variety of their technology.
 
Andy Mielczarek, CEO and founder, Chetwood Financial, said: “With inflation still sitting close to 40-year highs and energy costs rising sharply in the UK, Britons are facing some of the most difficult financial circumstances in years.

“In response to these challenges, many are embracing the digital revolution, seeking new methods to bolster their financial management and spending power. The resulting change in consumer behaviour has been palpable. 
 
“Our research suggests that consumers are generally dissatisfied with the level of support from established banks and their existing providers. In many cases, they are seeking newer alternatives that offer competitive rates, cash incentives and better technology.”