Page 13 - AeM_January_2020

RESEARCH
ANALYSIS
• 62% said their banks’ digital offerings are just
average compared with the rest of their digital lives TRENDS

• More than half (57%) of all respondents said they
have never digitally signed a document with their
banks, while 41% would like their banks to offer this
ability

• Most (59%) said they would not do business with
banks that didn’t offer digital or mobile services

Craig Peasley, director of marketing at Adobe, The study also found that Millennials and Generation Z,
however, believes that data shows that there’s still in particular, preferred banking via mobile apps and
room to delight customers with offerings that combine were more likely to state they would not bank with a
the face-to-face service that’s still popular and digital financial institution that had limited or no online and
offerings. “There’s a shift that’s occurring in banking mobile services.
right now, and it’s driven by the fact that younger
consumers are coming of age and getting their own • 44% of Millennial and Gen Z customers would even
bank accounts,” Peasley added. like to start and finish applications to open an
account without ever walking into a bank
While digital and mobile bank self-service offerings are
most popular, new research from Adobe revealed that • Despite these generational differences, security and
physical bank branches remain an essential touchpoint. privacy remain the No. 1 factor for all age groups
After surveying over 1,000 people across generations, when choosing a bank:
the Adobe Consumer Banking Insights study found that
75% of consumers still believe that physical bank  The majority (76%) cited security and privacy as
key considerations when digitally enrolling for a
branches matter and 70% have visited a physical banking service
branch at least once in the past month.
More than half of the respondents said that most of  50% said they worry about the safety of their
their banking is conducted online, but even with finances with online-only banks
convenience at their fingertips, consumers also said With these insights, banks are presented with the
more could be done: opportunities to rise above digital challenges and thrive

in the future.◊ By MediaBUZZ

13 January 2020: Digital Marketing Trends & Predictions