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BAI Research Reveals Significant Shifts in Last 12 Months for Banking Preferences by GenerationRecent research by BAI, a nonprofit independent organization that delivers the financial services industry's most actionable insights, found consumer banking preferences are shifting and behaviors are evolving by generation. The research reveals how the pandemic has accelerated changes in banking behaviors among Baby Boomers (Boomers+), Generation X (Gen X), Millennials and Generation Z (Gen Z) customers. These findings seek to better understand generational banking preferences to equip financial services leaders with the insights needed to plan for the future. Trends by generation include:
Even as generational preferences vary, about half of consumers plan to give all of their future deposit business to their current primary financial services organization. However, these numbers decrease for all generations when asked if they plan to give their future loan or investment business to their current primary financial services organization. About BAI As a nonprofit, independent organization, BAI has delivered the financial services industry's most actionable insights for more than 95 years, helping leaders make smart business decisions every day. We provide in-depth, proprietary research to more than 40 of the top US banks, support more than 2,100 financial services organizations with compliance and professional development training, provide trusted, relevant thought leadership through BAI Banking Strategies reports, podcasts and webinars, and offer specialized events and programs. For more information, visit www.bai.org.
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