Financial Supervisory Authority survey: safeguarding basic banking services requires easy-to-use digital services and alternative service options
“Digital banking services facilitate access to banking services anywhere, anytime. The FIN-FSA welcomes this development. However, the accessibility and availability of digital services need to be further improved to address the needs of special groups. It is important for different customer groups to be able to make greater use of digital banking services,” says the FIN-FSA’s Director General, Anneli Tuominen.
The branch network serving private customers has been significantly reduced in recent years, while the number of branch offices offering full-time cash services has decreased. The availability of basic banking services has therefore deteriorated for those customers who are unable to handle their banking transactions digitally.
Banking costs are less expensive for users of digital banking services. The biggest change in costs concerns cash withdrawals from ATMs, for which an increasing number of banks have begun to charge a fee beyond a certain number of withdrawals. The FIN-FSA has also noted in the survey that there are large differences between banks in the pricing of individual banking services.
Monitoring the availability of basic banking services
The FIN-FSA has also assessed the availability of digital services, advisory services and materials, and alternatives to digital services.
Where appropriate, user-friendly changes should be made to digital services – namely adjustments that will improve the availability and accessibility of the services also for those customers who, for one reason or another, are unable to use them. The adjustments made by banks often relate to, for example, support for voice control and screen reader programs as well as identification tools.
The level of these adjustments and alternatives to digital services vary from bank to bank. Advocacy organisations representing special groups do not, however, consider the adjustments and alternatives to be in all respects sufficient.
Banks should pay attention to providing information and advice about adjustments and alternatives. In addition, banks should ensure that the information is directed at the right target groups.
Banks should also provide non-digital banking services
The FIN-FSA considers it important that banks offer the option of making cash withdrawals in shops or other retail sales points and actively explore the adequacy of the cash withdrawal network and the potential to increase merchant cooperation to improve cash withdrawal opportunities. Banks should also inform customers about the various cash withdrawal options.
In addition, banks should assess opportunities to expand the range of basic banking services handled in their telephone customer service (for example ordering payment service envelopes, paying bills and concluding electronic invoice agreements by telephone), ensure that the prices of individual basic banking services are affordable and make, if necessary, reasonable adjustments to digital banking services. It is also important that banks offer advice on digital banking services in localities where there is no branch.
On 29 November 2019, the FIN-FSA presented to the Parliamentary Supervisory Council a survey of the availability and pricing of basic banking services provided for by law. The survey is based on material available on the consumer payment account comparison website (www.fine.fi/maksutilivertailu, in Finnish), feedback from customers, stakeholders and supervised entities, and a thematic evaluation made in connection with the survey.
See also
Survey of basic banking services 2019 (in Finnish)
Translation will be available here on 3 December at the latest.
For further information, please contact:
Samu Kurri, Head of Department
Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 9 183 5030, weekdays 9.00–16.00.
Keywords
About Finanssivalvonta
Finanssivalvonta, or the Financial Supervisory Authority (FIN-FSA), is the authority for supervision of Finland’s financial and insurance sectors. The entities supervised by the authority include banks, insurance and pension companies as well as other companies operating in the insurance sector, investment firms, fund management companies and the Helsinki Stock Exchange. We foster financial stability and confidence in the financial markets and enhance protection for customers, investors and the insured.
Subscribe to releases from Finanssivalvonta
Subscribe to all the latest releases from Finanssivalvonta by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Finanssivalvonta
Finansinspektionens tematiska bedömning: organisationer inom den finansiella sektorn använder artificiell intelligens i sina interna processer, användningen i kundgränssnittet ökar27.6.2025 11:00:00 EEST | Pressmeddelande
Största delen av företagen i den finansiella sektorn uppger att de antingen redan använder AI-lösningar eller att de planerar att införa dem. Största delen av AI-lösningarna används för närvarande i aktörernas interna processer, men tillämpningen i kundgränssnittet kommer att öka under de närmaste åren.
Finanssivalvonnan teema-arvio: finanssisektorin organisaatiot käyttävät tekoälyä sisäisissä prosesseissaan, hyödyntäminen asiakasrajapinnassa lisääntyy27.6.2025 11:00:00 EEST | Tiedote
Suurin osa finanssisektorin yrityksistä kertoo joko jo käyttävänsä tekoälyratkaisuja tai suunnittelevansa sen aloittamista. Valtaosa tekoälyratkaisuista on tällä hetkellä käytössä toimijoiden sisäisissä prosesseissa, mutta soveltaminen asiakasrajapinnassa kasvaa lähivuosina.
FIN-FSA thematic review: financial sector organisations use AI in internal processes, utilisation in the customer interface increases27.6.2025 11:00:00 EEST | Press release
The majority of financial sector companies reported either already using or planning to start using artificial intelligence (AI) solutions. Most of the AI solutions are currently used in the entities’ internal processes, but application in the customer interface is going to increase over the following years.
Den finansiella sektorn i Finland är fortsatt kapitalstark - osäkerheten kastar en skugga över de ekonomiska utsikterna11.6.2025 09:10:00 EEST | Pressmeddelande
Läget i den finansiella sektorn i Finland har varit fortsatt stabilt under början av året, fastän USA:s tullar, hotet om en avmattning i den ekonomiska tillväxten och andra geopolitiska spänningar har gått hårt åt finansmarknaden och det allmänna förtroendet. I fråga om cyberhoten har läget i Finland varit huvudsakligen lugnt, men bedrägerier och nätfiske av bankkoder har ökat, vilket framhäver behovet av vaksamhet hos både de finansiella aktörerna och kunderna. Det osäkra ekonomiska och geopolitiska läget påverkar omvärlden också framöver.
Suomen finanssisektorin vakavaraisuus säilynyt vahvana – epävarmuus varjostaa talousnäkymiä11.6.2025 09:10:00 EEST | Tiedote
Suomen finanssisektorin tilanne on pysynyt alkuvuonna vakaana, vaikka Yhdysvaltain asettamat tullit, talouskasvun hidastumisen uhka ja muut geopoliittiset jännitteet ovat riepotelleet rahoitusmarkkinoita ja yleistä luottamusta. Kyberuhkien osalta tilanne on säilynyt pääosin Suomessa rauhallisena, mutta huijaukset ja pankkitunnusten kalastelu ovat lisääntyneet, mikä korostaa tarvetta sekä finanssisektorin toimijoiden että asiakkaiden valppaudelle. Epävarma taloudellinen ja geopoliittinen tilanne vaikuttaa toimintaympäristöön myös jatkossa.
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom