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How do Customers
Across Europe Really
Feel About their Banks?

CATEGORY

Infographic, Financial Services, Artificial Intelligence, CX+

Dennis Joosten

Head of Banking Practice, EMEA

Today’s consumers view their banks more as a utility than an ecosystem partner. Banking customers are increasingly demanding personalized digital experiences aligned with their own financial well-being, and they’re more than willing to look elsewhere for those services if your bank isn’t delivering.

With the rise of Gen AI, the time to build lasting digital differentiation is now. But you can only be successful in those efforts if you understand the evolving needs and expectations of your customers. Here’s what they had to say:

On Their Willingness to Switch

Across the world, 25% of customers indicated they would be willing to switch banks in the next 12 months.

More concerning, there is a strong generational divide in the data, with 37% of Gen Z and 35% of Millennial consumers stating they would be willing to take their primary banking relationship elsewhere.

HOW DOES EUROPE COMPARE?

Consumers who indicated they would be willing to switch banks in the next 12 months:

21%

Germany

For Gen Z, this figure rises to 34%. For Millennials, it’s even more significant at 38%

19%

Spain

For Gen Z, this figure rises to just 22%. For Millennial customers, this figure rises to 30%

28%

UK

For Gen Z, this figure soars to 45%. For Millennials, it’s still an alarming 35%

WHY IT MATTERS

Banking relationships are not as sticky as they once were and younger demographics are willing to move if you’re not meeting their needs.

The Bank as an Ecosystem Partner

Around the globe, 44% of customers view the idea of one main bank as a thing of the past.

This is especially true for Gen Z and Millennial customers, where 53% of respondents expressed such views.

HOW DOES EUROPE COMPARE?

Customers who view one main bank as a thing of the past:

39%

Germany

For Gen Z, this figure rises to 54%. For Millennials, it’s 51%

34%

Spain

For Gen Z, this figure rises to 39%. For Millennials, it’s 42%

40%

UK

For Gen Z, this figure rises to 46%. For Millennials, it’s 50%

WHY IT MATTERS

Younger cohorts are more willing to mix and match services from various providers. If your bank is not delivering the digital experiences they demand, they’ll search out those who are.

Globally, customers are expressing an appetite for services that add value to their financial lives, and 40% claim they're willing to pay for it.

This is even more pronounced in younger cohorts, with 61% of Gen Z and 52% of Millennial respondents signaling they would be willing to pay for premium banking services that included personalized guidance, financial literacy, etc.

HOW DOES EUROPE COMPARE?

Customers who would be willing to pay for premium banking services:

35%

Germany

For Gen Z, this figure rises to 60%. For Millennials, it’s 55%

33%

Spain

For Gen Z, this figure rises to 59%. For Millennials, it’s 45%

23%

UK

For Gen Z, this figure rises to 49%. For Millennials, it’s 34%

WHY IT MATTERS

Younger cohorts are expressing a desire for a relationship with their bank that goes beyond transactional utility. If you’re not delivering, these customers will walk.

Generational Divides in Attitudes Around AI

Customer attitudes around AI have reached a tipping point.

Globally, 50% of those surveyed said they would be comfortable acting on financial guidance from an AI service provided by their bank, rising to 60% for Gen Z and 62% for Millennial respondents.

HOW DOES EUROPE COMPARE?

Customers who would be comfortable acting on financial guidance from an AI service provided by their bank:

38%

Germany

This figure rises to 51% for Gen Z and 48% for Millennials.

52%

Spain

This figure rises to 66% for Gen Z and 56% for Millennials.

32%

UK

This figure rises to 50% for Gen Z and 44% for Millennials.

WHY IT MATTERS

AI has the ability to scale and deliver the personalized guidance and banking experiences your customers demand. The time to build lasting AI differentiation is now.

The Bottom Line

As younger cohorts of banking customers begin to wield an increasingly larger share of wallet, your bank must evolve from the perception of transactional utility to that of a valued partner if it wishes to stay relevant.

As evidenced, younger generations of customers are all too willing to embrace new digital entrants. What’s more, they’re eager for personalized, value-added services, so much so they’re willing to pay for access or otherwise jump ship if they can’t obtain those services from you.

By embracing AI, banks have an opportunity to deliver these types of services at scale, but only if they’re willing to act now to build differentiation through those capabilities. Failure to adapt means facing the prospect of becoming irrelevant to a large swathe of customers.

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For more insights from our research, download our full 2026 Consumer Banking Report, today.

Download the Full Report

How We Went About It

The data published here is based on a survey of 14,000 adults aged 18+ across 10 different critical banking regions. The survey was conducted between November 3 and November 18, 2025. Survey data was collected in partnership with Opinium Research. Data analysis was conducted by Opinium Research, with additional analysis provided by EPAM consultants, analyzing variations in motivation, attitudes, needs and expectations between each segment.