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Banking on value: Rewards, robo-advice and relevance

Consumers want it all—a banking customer experience that is easy, seamless and relevant.

A search for value

Our 2016 North America Consumer Digital Banking Survey of over 4,000 consumers in the U.S. and Canada shows consumers are focused on value – seeking everything from deals and discounts to a convenient banking experience that leverages the latest digital technologies. They’re also willing to share personal data to get what they are looking for.

Executive Summary


Four key insights

The survey results provided four key insights on what consumers want from their banking relationship today and in the future.

Hunting for value is hot

Hunting for value is hot

45 percent of consumers say the top reason that they would stay loyal is if their bank offers discounts on purchases of interest.

Switching is not an obstacle

Switching is not an obstacle

11 percent of consumers left their bank in the past year and switching to virtual banks is at double-digit levels.

Robo-advice is welcome

Robo-advice is welcome

46 percent of consumers are willing to bank using robo-advice in the future.

The branch is alive and well

The branch is alive and well

87 percent of consumers will use their branches in the future – and want human interaction when they go there.

Delivering new value

To provide the value consumers are looking for, banks must do things differently.

Win the data game

Banks must refine data collection to preserve customers’ data privacy. Combine digital trust with predictive analytics to deliver value for customers.

Be relentless about service

From business strategy to day-to-day culture, superior customer service must be consistent and continually refined based on customer feedback.

Reinvent loyalty

Leverage digital marketing platforms to capture customers’ implicit and explicit intent so banks can connect in ways that matter.

Explore new roles

Banks can provide more value to customers by becoming a go-to resource for how they live and work, rather than being a pure financial utility.

Master “phygital” experiences

Developing banking channels in isolation from one another is risky. Customers want seamless “phygital” experiences that blend physical and digital.