Even though a vast majority of consumers worldwide are open to robo-advisory services for their banking, insurance and retirement planning needs, but many still cling on to human interaction for their more complex financial needs, according to a research by Accenture.

The study revealed that seven in 10 consumers across the globe are open to robo-advisory services. Seventy one percent of consumers are open to robo-advice to determine which bank account to open. Furthermore, 68% are open to the same for retirement planning, and 78% welcome robo-advice for traditional investing.

However, about two-thirds of consumers still prefer human interaction in financial services, with 68% preferring it to deal with complaints and 61% for advice about complex products such as mortgages.

According to findings from the study, emerging economies of Indonesia, Thailand, Brazil, and Chile have been found to possess the biggest appetite for robo-advice.

Accenture Financial Services senior managing director Piercarlo Gera said: “While financial institutions may expect to benefit from internal cost reduction by providing customers with a ‘robo’ option, our research found that consumers also expect first-class human interaction.

“Successful financial services firms will therefore need a "phygital" strategy that seamlessly integrates technology, branch networks and staff to provide a service that combines physical and digital capabilities and gives consumers a choice."

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The study also found that consumers are willing to switch to non-traditional providers for financial services, with roughly one-third ready to switch to their accounts to technology giants such as Google, Amazon or Facebook or a supermarket or retailer.

Consumers were also found to be willing to share their data with financial services providers in return for benefits, and desired for increased personalisation. Sixty seven percent of consumers globally said that they are willing to grant their bank access to more personal data, while 63% said that they want more tailored advice in return for the information they share.