2023 Digital Banking Experience

Consumers Give Their Digital Banking Experience High Marks

• 97% rated their bank’s online and mobile app experience as “excellent,” “very good” or “good”.
• 94% said their overall access to banking services today is “excellent,” “very good” or “good”.
• 8 in 10 said tech improvements by banks are making it easier for consumers to access financial services.
• 8 in 10 Americans have used a mobile device at least once in the past month to manage their bank account.

Mobile device use by age group

• 88% adults ages 18-34 VS. 62% adults ages 65+
  have used a mobile device to manage their bank accounts in the past month.
• 60% have used a mobile app (Zelle® , Apple Pay, Venmo, etc.) to make a payment or transfer money to someone in the past year.
• Younger adults are most likely to make mobile payments
• 18 – 34: 72%
• 35 – 44 : 75%
• 45 – 64: 56%
• 65+: 37%

Bank customers know they are protected

• 9 in 10 agree their bank takes proactive steps to protect them from fraud/scams
• 3 in 4 believe their bank does more than businesses in other industries to protect them from fraud/scams

By a large margin over other industries, consumers trust banks most to keep their information secure:

• 36% Banks
• 18% Health care providers
• 8% The government
• 6% Non-bank payment providers (such as Apple Pay, Venmo, and PayPal)
• 2% Cryptocurrency companies
• 1% Major retailers
• 1% Telecom companies (such as Sprint, Verizon and AT&T)

Source: Morning Consult, on behalf of American Bankers Association, conducted an online survey from September 20-22, 2023. The margin of error is plus or minus 2 percentage points, from a weighted sample of 2,211 adults.