Curinos’ latest U.S. Shopper Survey asked recent checking account switchers and those considering switching what makes an online or mobile banking app useful. Regardless of age, just over a third of respondents cited either ease of paying bills and people, making transfers between accounts or completing most banking activities (top of chart). No surprise there.
What Does “Useful Online Or Mobile Banking” Mean To You?
Research shows that the digital experience
needs to blend utility with aesthetics and design.
But on the fringes, we’re seeing a generational divide. GenZ shoppers aged 18 to 25 and emerging affluent HENRYs (high earners, not rich yet) think money-management tools matter significantly more than do their GenX and Boomer counterparts. And brands are noticing. Chase and Wells Fargo have released their wealth and goal-planning tools, previously available only to wealth clients, to all checking customers.
GenZ and HENRYs also think a “beautifully designed app” is important (bottom of chart) – and digital-first fintechs and neobanks are delivering. They’re offering experiences that provide the interaction and aesthetic that users receive from Instagram, Spotify, Facebook or Netflix.
But incumbent banks have to cater to all generations – those who grew up on Windows 3.1, those who TikTok regularly, and everyone in between. So they’ll need to find ways to delight users on all three fronts: modern aesthetic and interaction, accessibility and adaptability no matter what the generation, and the functionality to support users across life stages.
