As part of our research process for our latest white paper, "The Banker's Guide to Digital Advocacy," we surveyed 504 random U.S. consumers and asked about their digital banking preferences. Here are 7 charts we made based on the results.
The first one shows that desktop is currently the most preferred banking channel — far more preferred than the branch or the call center (phone):
However, consumers want a better mobile experience far more than they want a better desktop experience:
And the trend is toward mobile:
Many consumers are still wary of the banking industry:
And many consumers have been so fed up that they've left their bank and gone elsewhere:
Many consumers also feel like their primary financial institution doesn't help them with their financial health:
And they might be willing to look outside of the banking industry for help:
This last one is a trick question: Google and PayPal already offer loans (see here and here). Time will tell whether consumers actually act on their desire to bank with these tech companies. At the very least, the fact that consumers would consider using such features is an indicator that traditional banks should keep on their toes. (Or maybe it's an indicator that traditional banks should get a head start on beating the tech companies on the digital lending front — as Goldman Sachs recently started doing.)
For more on this topic, and to see more graphs, download the white paper "The Banker's Guide to Digital Advocacy."