Financial shocks are key savings motivator, research shows

The findings were part of a Competition and Consumer Protection Commission trial that investigated ways in which financial institutions can improve customer wellbeing

The CCPC's research shows how financial service providers can use behavioural insights to improve consumer financial well-being. Picture: Andres Poveda.

NEW research has revealed that the fear of future ‘financial shocks’ is a key savings motivator for Irish consumers.

The findings were part of a trial, conducted by the Competition and Consumer Protection Commission (CCPC), that investigated ways in which financial institutions can improve customer wellbeing.