What Influences Where Consumers Choose to Bank
What Influences Where Consumers Choose to Bank
15 PagesMX’s 2023 survey shows trust is the top factor in where consumers bank, with 58% ranking it highest and 35% citing safety of money and data as the primary reason. National banks are most trusted at 50%, followed by credit unions at 19%. Still, 72% cite fraud as a major concern, with 28% having experienced it in the past two years. Consumers also expect personalization, with 57% wanting help managing money and 79% expecting proactive alerts for financial issues. While 82% believe they own their financial data, 52% remain unsure who can access it, underscoring the need for transparency and control.
