Fintechs seem quick to say that the role of primary banking no longer exists and that online, or challenger banks, will one day rule the roost. This notion is supported by those that claim the branch is dead. Others question whether the golden trio of retail banking services still matters: checking account, direct deposit, and online bill payment.
The annual 2024 Datos Insights survey on consumer financial behaviors addresses these questions and offers insight into the direction financial service providers should take to meet the changing needs of consumers. This report is based on two consumer studies: one among 4,634 consumers in the U.S., Canada, and the U.K. conducted in Q1 2024; and another one among 3,008 consumers in the U.S., Canada, and the U.K. that Datos Insights conducted in Q3 and Q4 2022.
Clients of Datos Insights’ Retail Banking & Payments service can download this report.
This report mentions Ally Bank, Bank of America, Chime, Citibank, JPMorgan Chase, Sofi, Varo Bank, and Wells Fargo.
About the Author
