Consumer Behavior

Consumers increasingly adopting digital banking

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January 6, 2022

Customers are increasingly embracing digital banking, with 73% claiming they use it once a week or more, according to JP Morgan Chase's digital banking attitudes study. In addition, 62% of respondents said they couldn't live without digital banking, according to a press release.

Across all generations, 66% of customers said their top reason to use digital banking was for its convenience with 57% citing it as easy and 46% saying because it saves time. Other findings of the study include:

• 76% use credit services to check credit scores, and 44% of Gen Z use credit monitoring services.
• 79% said digital payment options made it easier to manage finances.
• 13% use their bank's website or mobile app to book travel and 34% said they would be willing to try it.