Summary

The generations do not bank the same. How can banks continue to connect with their existing, aging customer base while also attracting new, younger customers? To answer this question, Hero Digital surveyed 1,500 people about their expectations and sentiment when it comes to interacting with their financial institutions. The recently-released study examines several attributes, including trust, convenience, ease of interaction, and connection to identify what is essential for banks to remain competitive, set them apart from their competition, and – most importantly – how these expectations differ by generation. 

BWG Connect, Adobe & Hero Digital invite you to participate in an interactive discussion with your peers, exploring this shifting landscape. 

• Overall customer banking interactions are shifting towards digital, but there are clear differences in interaction preference across the generations with Millennials being the most digitally inclined and Boomers being more likely to prefer in-person interactions.
• Expectations for digital experiences are being set by interactions with companies outside the customer’s primary bank. The vast majority of banking customers also have at least one fintech account.
• 90% of customers expect security from their financial institutions. Flexibility, easy digital, and caring are also important.
• Only about 1 in 5 customers across all generations feel their financial institution cares about them. A strong connection is an opportunity for financial institutions to set themselves apart. 

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