Analyses & Studies Finance - Assurance - Banque
Banking Consumer Study 2025
The Global Banking Consumer Study 2025 delves into the dynamic changes in the banking industry, driven by the rapid pace of digitalization. This study underscores the shift towards more transactional and less personal banking experiences, which has led to a significant number of customers engaging with multiple financial institutions. To succeed in this environment, banks must prioritize building customer advocacy by focusing on trust, personalization, customer service, and competitive benefits. By addressing these critical areas, banks can foster deeper customer relationships, drive faster revenue growth, and enhance overall performance. The study provides actionable insights and strategies to help banks transform satisfied customers into loyal advocates, ensuring sustained value and growth.
Key Findings:
- Revenue Growth: Banks with the highest customer advocacy scores (top 20%) experience 1.7 times faster revenue growth, with even higher growth in North America (2.6 times).
- Product Adoption: Customer advocates hold, on average, 17% more products with their primary bank, enhancing the share of wallet.
- Trust and Transparency: Establishing a foundation of trust through clear and honest communication.
- Continuity in Customer Journeys: Ensuring seamless and consistent experiences across all touchpoints.
- Elevated Service Across Channels: Providing high-quality service that meets customer needs and expectations.
- Rewards Beyond Rates and Fees: Offering value-added benefits that go beyond just competitive pricing.
- AI and Customer Advocacy: AI is a powerful tool in this transformation. It can help banks scale efficiently and personalize the customer experience, much like the trusted branch managers of the past. By leveraging AI, banks can enhance trust, ensure continuity, and elevate service, leading to more meaningful and seamless interactions.
To read the full report, please click here.
