The Generational Trends in Digital Banking Study, 2025

From Gen Z to baby boomers, each generation has shared—and unique—expectations when it comes to their digital banking experience. Learn how to enhance relevance, drive digital growth, and establish lasting primacy with new data from each age cohort gathered and analyzed in this year’s study.

For example, did you know:

• Millennials and Gen X will dominate the workforce by 2033.
• 37% of Americans expect to receive an inheritance in the next 10-20 years.
• Half of digital banking users are willing to switch providers for a better digital experience; 31% already have.
• Digital onboarding must be seamless—less than five minutes—to capture and convert.
• Younger generations define their “primary financial institution” by digital usage, not by physical location or legacy.
• 84% of digital banking consumers value the quality of a digital experience when choosing a provider.
• Nearly half say their institution could be doing more to anticipate their financial needs.
• Neobanks are outperforming regional and community financial institutions in relevance and personalization perception.
• AI is expected to transform banking interactions—with 65% of users believing it will change how they bank within five years.

Find out how we uncovered the data

This report is informed by a national research study conducted by The Center for Generational Kinetics and commissioned by Alkami to examine the evolving expectations of digital banking consumers across generational segments. The study surveyed 1,500 U.S. adults aged 22 to 65, all of whom actively engage in digital banking. The research and white paper is intended to equip financial institutions with a deeper understanding of generational behaviors, unmet needs, and the emerging trends influencing account holder engagement, loyalty, and product adoption. The research also looked at the patterns that drive primacy. The study was conducted online from February 24, 2025, to March 14, 2025.

In the report, you’ll encounter five key data-backed insights, each with their own prescribed opportunities and actions financial institutions can take to not just keep pace but to lead. Engage in insights about:

• Insight #1: There is a massive shift in the market coming over the next 10 years, and the gap between what consumers want and what they’re getting has never been wider.
• Insight #2: Digital channels are not just a convenience—they are the primary gateway to trust, engagement, service, and growth.
• Insight #3: Most first impressions with new account holders are happening through a digital channel. For financial institutions, the process of opening an account and onboarding a consumer is no longer a back-office function—it’s a front-line differentiator.
• Insight #4: In the eyes of today’s banking consumers, the digital experience IS the banking experience.
• Insight #5: Trust is earned every day through intelligence and personalization. Financial institution leaders who use transaction data to drive relevant cross-sell opportunities aren’t just applying smart marketing—they’re building a loyalty strategy.