In June 2021, Alkami conducted primary research among 795 digital banking customers and members in the United States to better understand Big Tech's influence on the digital banking experience and compared those findings with the perceptions of 150 regional and community financial institutions. We found that Big Tech is recreating the digital banking experience and users are eagerly embracing the change.
Key insights from the report include:
- More than half of regional and community FIs and close to 40% of consumers agree that the 'bank' of the future will be a technology company
- 73% of users prefer an app that understands their needs and priorities and shares relevant offers over an app that respects privacy and doesn't push offers
- 79% of digital banking consumers would consider opening a new checking or savings account with a Big Tech, fintech, or neobank
- If a Big Tech company offered similar financial services to what users receive today, users are more than 50% more likely to make the switch
- More than half of all generations are wary of machines solely running their digital banking experience
Download the full whitepaper and gain more insights from the complete report.
