A fifth of Welsh residents have no basic digital skills
ONE in five Welsh residents (19%) lack the basic digital skills that could help them save money by banking online, according to the latest Lloyds Bank UK Consumer Digital Index. The figure is more than double the national average, which stands at 8%.
The index, which measures both skills and behaviours of participants, revealed that Wales has the highest proportion of people with no basic digital skills in the UK.
The research found that those with high-digital capability can save nearly twice as often, and more than twice as much as those without basic digital skills – a trend that was observed across all income levels. Almost three quarters (73%) use internet and mobile banking to help avoid overdraft fees.
The Index also found that 15% of people in the region would not be able to cope for more than three months following a financial shock.
UK-wide, the study revealed that the main barriers to getting online were lack of motivation (39%) and lack of confidence (17%).
Carys Williams, Lloyds Banking Group Ambassador for Wales, said: “Building on our previous digital indices, this year’s report illustrates how digital capability can improve financial resilience. We also know through these findings that people who have low digital capability are twice as likely to have money worries and financial anxiety. The power of basic digital skills to improve financial health is clear, but what we can now see is the positive impact basic digital skills can also have on wellbeing.
“The pace of technological change can be daunting and so its unsurprising that many Welsh residents don’t feel motivated to get online or lack confidence. That’s why we’ve invested in more than 1,500 specially skilled digital champions to help people improve their digital skills, as well as working with Google to deliver free digital face-to-face training locally.”
As part of its Helping Britain Prosper Plan, Lloyds Banking Group has pledged to provide face-to-face digital skills training (including online banking) for 1.8 million individuals, businesses and charities by 2020.
The Lloyds Bank Consumer Digital Index measured five key basic digital skills including managing information, communicating online, transacting, problem solving and creating.