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Consumer Banking Report 2024

Key Consumer Insights to Help Banks Plan Their Digital Innovation Roadmap

Since we began our consumer banking research in 2020, the retail banking industry has witnessed seismic changes. 2023 alone was characterized by highly-publicized bank failures, rising interest rates, the rapid expansion of AI and more. With so much recent disruption, banks know they must take action. But where?

In our 2024 Consumer Banking Report, we unveil key consumer insights to help banks determine where they should focus their digital transformation efforts. Surveying 9,000 banking customers across nine countries – including the United States, United Kingdom, Germany, Italy, Saudi Arabia, Singapore, Hong Kong and Australia – we look at the impact that trust and education have on consumer appetites for data sharing, instant payments and the use of AI.

Download the report to learn more.




Consumer Banking

In the fourth iteration of our report, we surveyed 9,000 retail banking consumers evenly distributed across nine countries.


This Year's Report

We looked to consumers from around the globe to try to understand:

How composable banking can enable digital services, like instant payments

How data can lead to more personalized experiences

How customers feel about AI in their finances

The changing role of the banker in branch

Key Statistics

83% of respondents are happy with their bank. This is compared to 4% who say they are not satisfied. This begs the question, "What's the appetite for switching?"

Branches play an important role. Globally, 86% of respondents have used a physical branch in the last year, and 45% report doing so at least monthly.

Three in 10 respondents reported they are considering switching banks in the next 12 months.

Looking ahead to the next three years, the features or services deemed most important from their banks are instant payments (78%) and digital access to a banker or concierge (64%).

Over two thirds (68%) say they would like their bank to provide better financial education, with a similar proportion (66%) wanting their bank to give them advice on how to manage their money better.

Just over a fifth (21%) say they have used an Al-enabled tool to help them manage their money, make financial decisions or provide them with financial advice in the last 12 months. Of those, 96% were satisfied with the decision it provided.


Read the full 2024 Consumer Banking Report for key insights into the attitudes and expectations of your retail banking customers and discover how you can leverage the research to build a competitive advantage.


Read the Report

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