The Consumer Digital Index 2017 by Lloyds Bank UK has revealed key information about the UK’s digital attitudes, this year’s report focuses on people’s financial resilience and how having digital skills can help.

Digital skills have proven to be essential for saving money. The insight shows that online banking has helped two-thirds of people to avoid paying overdraft fees.

It also reports that 1.6 small businesses and over 100,000 charities lack basic digital skills. The small businesses that are more digitally capable are reported to be more productive and twice as likely to report an increase in turnover compared to non-digital equivalents.

Many people are stuck in their ways, when the non-digital people were asked, 68% said nothing can motivate them to get online. On the other hand, the report also suggests that since 2016, 1.1 million more customers in the UK now have basic digital skills.  

Nick Williams, Managing Director, Consumer and Commercial Digital at Lloyds Banking Group, said: “Since launching the Business Digital Index in 2014, we have seen over twice as many organisations develop high digital capabilities, which shows great progress. This is giving them a shortcut to success in business, increasing sales, improving productivity and giving back almost a day a week in time savings.”

If you would like more information about the Consumer Digital Index 2017, read the full report here.