As part of our 2026 consumer banking research, we surveyed 5,000 customers across the US to understand their evolving attitudes and expectations around retail banks. Our research uncovered a series of striking trends, many of which should influence banking strategy for those financial institutions looking to build lasting differentiation.
Here are just a handful of the key insights we contained within our full 2026 Consumer Banking Report:
A Heightened Willingness to Switch
Across the US, over a quarter of customers (26%) 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 move their primary banking relationship elsewhere.
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
Within the US, 44% of customers view the idea of one main bank as a thing of the past.
This is especially true for Gen Z (54%) and Millennial customers (55%). In particular, these customers have an appetite for services that add value to their financial lives and they’re willing to pay for it, with 64% of Gen Z and 55% of Millennial respondents signaling they would be willing to pay for premium banking services that included personalized guidance, financial literacy, etc.
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, they’ll find providers who will.
The Disappearing Bank Brand
In the US, 44% of consumers noted they would be comfortable using a digital-only bank with no physical branches.
However, there is a strong generational divide in that data, as 52% of Gen Z and 56% of Millennial customers stated they’re comfortable without the traditional branch experience.
WHY IT MATTERS
With shifting consumer preferences, there is space for new digital entrants, and those entrants will be all too willing to deliver on the needs of your customers if you fail to adapt.
Generational Divides in Attitudes Around AI
US customers are slightly less trusting of AI compared to their global counterparts.
Just under half of US banking customers (47%) would be comfortable acting on financial guidance provided by AI service provided by their bank, compared to the global average of 50%. However, there is a strong generational divide within this data, with 58% of Gen Z and 60% of Millennial respondents noting they would be comfortable turning to AI for financial advice.
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.
For more insights from our research, download our full 2026 Consumer Banking Report, today.
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, including 5,000 customers based in the US. 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.