This month’s Bank Monitor Report analyzes and summarizes data from our survey of online banking users in July 2018. While overall satisfaction with online banking platforms is high, firms should take note of changing preferences. Older generations value the most essential capabilities, while younger users expect more functionality from their banks. Analyzing survey data across generations reveals increased importance for comprehensive online banking platforms that balance basic functionality with advanced features. Meanwhile, firms should note that higher satisfaction does not correspond to higher loyalty; Millennials are more likely to move their primary bank accounts, regardless of high satisfaction claims.
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