EPAM’s 2026 Consumer Banking Report: A First Look at Key Findings
As technological capabilities and customer expectations evolve more rapidly than ever, the need for a new banking experience becomes increasingly urgent. Yet, banking executives are being asked to do more with less as the market shifts in response to innovations and geopolitical changes.
Our fifth annual Consumer Banking Report shares how banks can do just that.
We surveyed 14,000 banking customers across 11 countries, including:
- Australia
- Brazil
- Canada
- Germany
- Hong Kong
- Mexico
- United Arab Emirates
- Singapore
- Spain
- United Kingdom and Northern Ireland
- United States
We unearthed their shifting needs and preferences in everything from branch experiences to digital services and artificial intelligence. The full results will provide financial institutions with a roadmap to build a lasting competitive advantage.
Get a glimpse of the critical changes unfolding across the industry below. To receive your copy of the full report once live, enter your information here.
On the Power of Word-of-Mouth
When it comes to banking, peer influence drives more decisions than any other channel. Globally, just over a quarter (26%) of all customers chose their primary bank because their family and friends use the brand already. This figure rises to 37% for Gen Z.
Banks who position themselves to deliver on the needs and demands of current customers while simultaneously making space for the next generation of customers through targeted referral programs stand to build a major advantage when it comes to attracting younger customers. Our full report details exactly what younger generations value and how to position your institution as a partner rather than a utility.
On Customer Satisfaction
Customer happiness with their primary banks remains high. Globally, 80% report being happy with their primary bank, whereas 9% report being unhappy. However, regional data reveals significant disparities. For instance, the UK reports 73% overall happiness compared to 90% in the UAE.
How are these trends playing out over time, and what are the consequences for banks that fail to drive improvement in these metrics? We examine the consequences for banks that fail to address these metrics in our complete analysis.
On AI
Consumers are ready for artificial intelligence in finance. Half of our global respondents state they feel comfortable acting on financial guidance from an AI service provided by their bank.
This openness presents a strategic opportunity to integrate AI into budgeting, investing and financial literacy tools. Our report breaks down demand for these services by age and region.
On Payments & Digital Money
Despite waning interest in 2024, demand for cryptocurrency is back. While just 28% of respondents noted they have invested in crypto currency previously, this number rises to 41% among Gen Z respondents.
But who do these investors trust to safeguard these digital assets? In the report, we break down their views on traditional banks, FinTech and BigTech’s role in crypto.
On Security
Consumers around the world largely recognize the importance of fraud protection, but they are unwilling to accept friction in their digital banking experience, even if the result would be higher security. Our research showed 47% of respondents claimed to value multi-factor authentication, but would still use online banking without it. This, despite the fact that a large number of consumers have been either targeted or the victims of fraud: 39% for phishing scams and 17% for having their card details stolen.
Banks must balance robust security with seamless user experience. We identify the specific security measures consumers favor in the upcoming report.
On Managing the Cost of Living Crisis
Given the influence of global inflation on consumer spending, it’s no surprise that consumers have varying opinions on which banking services would be most helpful in managing cost-of-living challenges. The most popular service across all generations was discounts at retailers consumers shop at most frequently at 39%.
We look into consumer needs, as well as how banks can help, in this economic climate.
Secure Your Access to the Full Report
We’re actively putting the final touches on our 2026 Consumer Banking Report. The full report provides the data you need to navigate regulatory changes, manage risks and drive impactful digital transformation. Whether you lead a retail bank, commercial bank, wealth management firm or fintech company, these insights will help you build a competitive strategy.
Fill out the form below to receive a notification when the report goes live.
