Modern Consumer Banking Report 2019
Third annual research study reveals insights and trends from 2,000 consumers about the evolution of omnichannel banking
For the third year, JRNI conducted independent research to learn about consumer banking habits and trends that will guide banks in 2020.
The results identify the top trends, and highlight what's changed since we starting conducting this research. The report reveals how consumers feel about today's banks, what banks need to improve, and opportunities for banks to attract and retain customers.
Here's a preview of what we found:
THE ROLE OF THE BANK
Consumers use multiple channels to conduct banking activities. 54% say they research banking products online then "purchase" them in a branch. When asked why they prefer the branch for certain activities, 35% said they value talking face-to-face with an expert.
WHAT SHOULD BANKS IMPROVE?
78% of US consumers and 66% of UK consumers rate the branch experience positively. However, both agree that there are improvements needed to staff availability and the time it takes to complete a visit.
THE OPPORTUNITY: IMPROVE EFFICIENCY AND HUMAN INTERACTION
Banks have an opportunity to make the branch experience better. 61% of consumers are interested in setting up online appointments before they visit branches, and 60% are interested in attending branch events. 73% of consumers said they might visit branches more often if they spent less time waiting in line.