From Raw Data to Real Help: What Today’s Consumers Expect From Truly Personalized Banking

The average consumer generates more financial data than ever in more places than ever — making money management more confusing, fragmented, or overwhelming. 

Consumers need a financial partner that can help them make sense of their financial data to better manage their money. But, more financial providers are falling behind on consumer expectations for personalized insights and financial guidance. 

MX’s latest consumer research shows 66% of consumers now expect greater levels of personalization than ever before (up from 46% in Q3 2024). This doesn’t mean just using a first name in an email or sending a generic birthday greeting once a year. It’s about interpreting real-time behavioral signals that reveal where someone is in their financial life and what they might need next. It’s the difference between simply showing a balance and helping an individual avoid an overdraft, reduce a recurring expense, or qualify for a better financial services product.

Consumers expect clarity, protection, guidance, and a fair value exchange from the financial institutions they trust with their data. And these expectations are setting a new standard for quality in mobile and digital banking. Personalized experiences are no longer an enhancement. They’re a core function that drives confidence, loyalty, and financial well-being. Here’s what consumers expect: 

Expectation #1: Help Me Understand My Financial Habits

Consumers don’t want just more data displayed on their screens — they want meaning. They expect their financial institutions to identify patterns, interpret behaviors, and deliver insights that simplify their financial lives. MX research shows the three things consumers most expect their financial providers to know are:

• Where they have recurring transactions or bills (57%)
• Categories of where they spend their money (53%)
• How much money they can save and still pay their bills (50%)

These expectations reflect a deep human need: to feel in control. Clean, categorized transactions and intuitive summaries are no longer optional; they’re baseline for personalized clarity. When institutions surface patterns and trends automatically, consumers feel supported instead of overwhelmed and empowered instead of confused.

Expectation #2: Warn Me Before Something Goes Wrong

According to the Aspen Institute, fraud and scams drain more than $158 billion from U.S. households each year. But the financial loss is only the beginning. Fraud erodes trust, undermines confidence, and shakes the foundation of financial stability.

Consumers want — and increasingly expect — their financial institution to spot risks early and communicate quickly. Personalized protection is one of the strongest signals that a financial institution is paying attention. Whether it’s an unusual spending spike, a forgotten subscription renewal, or a looming overdraft, consumers want their financial providers to connect the dots before the damage hits. This isn’t just loss prevention — it’s a mechanism for reassurance, safety, and peace of mind.

Expectation #3: Guide Me Through Real Life, Not Just My Balance

Money becomes especially emotional — and complicated — during moments of transition. These moments rarely appear as a single, obvious cue. They show up in subtle shifts like a name change, a new recurring payment, a pause in tuition charges, or an uptick in moving expenses.

MX’s latest research shows consumers want their financial institution to recognize these transactions and proactively help them navigate what comes next. The top life events consumers want support with are retirement (70%), buying a first home (67%), and moving to a new city (53%).

Consumers don’t want cookie-cutter advice or broad marketing pushes. They want guidance that fits the moment they’re in. When an institution recognizes a life transition and responds with relevance, care, and confidence, the relationship shifts from transactional to relational. It communicates, “We see you. We know what this moment means, and we’re here to help you move forward.”

Expectation #4: Give Me Something Useful in Exchange for My Data

Consumers understand their data has value, and they expect a fair return. More than half (53%) would share more data if it led to a better experience. But 37% still don’t believe their financial institution is doing enough to support their financial needs. The expectation is simple: Be transparent about how data is used, clearly show the benefits, and make the experience easier, smarter, and more rewarding.

This value exchange is at the heart of trust. When consumers feel their data is working for them — not just being collected, they become more willing to engage, share, and explore new services. Transparency builds trust. Personalization sustains it.

Consumers aren’t asking for perfection. They’re asking to feel understood, protected, and guided by the financial institutions they depend on every day with a clear and fair value exchange for the data they share. 

MX’s research makes it clear: the path to trust and long-term loyalty lies in transforming raw data into real help. The financial institutions that embrace this shift will redefine what the modern banking relationship looks like. And those that don’t will feel the growing cost of missed expectations.