How Consumer Banking Relationships Are Changing in the New Decade
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.
Quick Facts
20%
47%
60%
56%
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.
Interesting Findings
Avoiding Plastic
Despite having better transaction experiences with debit/credit cards, younger consumers would prefer to pay via mobile app.
Sticky Budgeting Tools
Young consumers say budgeting tools would be the most valuable addition to their banking relationships.
Experienced Borrowers Go Online
After navigating their first mortgage or lending experiences, consumers are much more willing to use online or nontraditional lenders.
Outside Commentary a Big Influence
Online commentary and news articles are major factor influencing young consumers investment choices and decisions.
Millennials and Gen Z Prefer to Bank Like Boomers
Beyond fast digital payments, today’s youngest banking customers want advice and direction more than anything else from their banking providers.
Resources
Explore thought leadership and research on retail banking transformation and how Oracle can equip banks to succeed and thrive in a rapidly evolving banking industry.
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