Search
Close this search box.
Search
Close this search box.

In Their Digital Experiences, Nextgen Users Want Both Aesthetics And Practicality

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. ​
Source: Curinos 2022/2023 Shopper Survey | What does ‘Useful online/mobile” mean to you when thinking of banking? (% of any mention), GenX and Boomers n=3,473 HENRY: Younger than 35 years old, have $100K+ income, and are not part of the Paycheck-to-Paycheck segment, n=11,444, with Aged 18-25=2,803, HENRY=728​

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.   

July 23, 2024

CPAs Continue To Soar

Thanks to the unrelenting high-rate environment and the demand financial institutions are exhibiting for new relationships, the cost to acquire (CPA) new-to-bank customers and members has shot up to $663 – a more than 125% increase from pre-pandemic levels.
READ TIME: 1 MIN

July 18, 2024

Profitable Commercial Growth Can Hinge On The Right Client Mix

Many commercial-banking relationships that had been profitable are now under water driven by sustained higher rate environment that has changed client behavior toward deposits and put continuing pressure on spreads. What to do?
READ TIME: 1 MIN

July 16, 2024

Mass Affluent: Big Opportunity, But At A Cost

Mass affluent customers are desirable. They have steady incomes and larger deposits, and they can be cross-sold into other profitable services such as lending and wealth management. But in today’s high rate environment, these more sophisticated clients are also demanding significantly more on rate than their mass market counterparts, so holding on to them is more costly than in the past.
READ TIME: 1 MIN

Latest Insights

According To The Data, Insights

CPAs Continue To Soar

Thanks to the unrelenting high-rate environment and the demand financial...

According To The Data, Insights

Profitable Commercial Growt...

Many commercial-banking relationships that had been profitable are now u...

Curinos Perspectives, Insights

Curinos Perspective: Using ...

From “Optimizing Deposits in Any Rate Environment,” a webinar presented ...

Want to go further?

Contact us to learn more about how Curinos can help you navigate today and prepare for tomorrow.

Need to contact a specific team?

Sales Inquiries:
Sales@curinos.com

Accounts Payable Inquiries:
CurinosAP@curinos.com

Media Inquiries:
Curinos@cognitomedia.com

Need to contact a specific team?

Sales Inquiries:
Sales@curinos.com

Accounts Payable Inquiries:
CurinosAP@curinos.com

Media Inquiries:
Curinos@cognitomedia.com

Need to contact a specific team?

Sales Inquiries:
Sales@curinos.com

Accounts Payable Inquiries:
CurinosAP@curinos.com

Media Inquiries:
Curinos@cognitomedia.com

Need to contact a specific team?

Sales Inquiries:
Sales@curinos.com

Accounts Payable Inquiries:
CurinosAP@curinos.com

Media Inquiries:
Curinos@cognitomedia.com

Need to contact a specific team?

Sales Inquiries:
Sales@curinos.com

Accounts Payable Inquiries:
CurinosAP@curinos.com

Media Inquiries:
Curinos@cognitomedia.com

Let's start a conversation...

Maximize your small business
lending performance.