Created in partnership with The Center for Generational Kinetics (CGK), the national study surveyed over 1,500 U.S. participants who currently have a bank account and are active in digital banking. The survey was weighted to the 2020 U.S. Census for age, region, gender, and ethnicity—and the findings reveal numerous unexpected and important insights that can be applied to FIs of all sizes, customer or membership numbers, and locations.

Key findings of the report include:

• Digital banking engagement is statistically correlated with higher FI product penetration.
• Regional and community FI account holders are less likely than all other financial provider cohorts to believe their financial relationship will grow over the next year. However, 40 percent would be more likely to try, use, or engage with other products if they were completely satisfied with their digital banking experience.
• Younger generations are up for grabs; more than one in five do not think or are unsure if their primary financial institution (PFI) will remain as such in the next year.