In June 2021, Alkami conducted primary research among 795 digital banking customers and members in the United States to better understand their expectations when it comes to an exemplary user experience and compared those findings with the perceptions of 150 regional and community financial institutions aspiring to deliver the same. We found that consumers are aligned on one key point regarding the digital banking experience: there is little room for error.
Key insights from the report include:
- More than 80 percent of consumers said a quality online or mobile banking experience is among their top requirements when choosing a new financial institution
- 39 percent indicated it as their number one criterion
- When asked to identify the greatest threat to their financial institution over the next 18 months, the “changing technology landscape” earned top marks, cited more times than low interest rates, cyberthreats and uncertain regulations
- More than 50% of FI leaders agree that the “bank” of the future will be a technology company
- No more than 40 percent of consumers are satisfied with their digital banking experience when it comes to delivering tools to achieve their financial goals
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