Conducted across 10 major banking regions and gathered from more than 2,000 consumers under the age of 30, the 2020-2021 Global Banking Survey provides an unparalleled view of how behaviors and preferences are changing among today’s emerging banking customers.
Gen Z and millennial customers are seeking digital banking solutions that enable them to make personally relevant money choices in the moment—and don’t require them to personally sort through paperwork or, worse, have to contact or talk to someone.
Banks face challenges that were unfathomable a decade ago. Fintechs are exponentially acquiring customers with lending and payments products and big tech companies are looming with robust solutions targeting deposits.
Our latest survey should worry banks, as the data suggest that 56% of young consumers would be willing to switch to a big tech banking solution. What can banks do to stem the tide? Our report details where to start.
Despite having better transaction experiences with debit/credit cards, younger consumers would prefer to pay via mobile app.
Young consumers say budgeting tools would be the most valuable addition to their banking relationships.
After navigating their first mortgage or lending experiences, consumers are much more willing to use online or nontraditional lenders.
Online commentary and news articles are major factor influencing young consumers investment choices and decisions.
Beyond fast digital payments, today’s youngest banking customers want advice and direction more than anything else from their banking providers.