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Gen Z bank customers want latest tech with traditional support channels

Gen Z bank customers want latest tech with traditional support channelsPhoto by

The Gen Z banking consumer wants fast service, the latest tech as well as access to store reps, phone support and are more likely to visit branches than user remote support.

The consumer segment expects retail banks to offer face-to-face service along with tech-savvy channel options, according to a survey from retail software provider Qudini.

The Qudini 2020 Retail Banking Survey, conducted by Censuswide, polled 2,004 respondents from throughout the U.S.

Additional findings, according to a press release, include:

  • Phone support: 56% of Gen Zers rely on telephone support to interact with their bank (the generational average is 45%). In addition, 29% of Gen Zers said good phone support was the most important overall experience of their current bank (the generational average was 16%).
  • Self-service kiosks: 82% of Gen Zers want self-service kiosks for quick services like cashing cheques.
  • Appointment scheduling: 75% of Gen Zers said the option to pre-book an appointment time to telephone/video conference to discuss financial support was important or extremely important (the generational average was 54%).
  • In-branch events: 63% of Gen Zers said events to support their personal or business’ financial needs is important or extremely important (the overall average was 49%).
  • Working areas: 73% of Gen Zers said working areas in branches was important or extremely important (the overall average was 49%).
  • Sustainability: 78% of Gen Zers said it’s important or very important for banks to reduce their environmental impact with more sustainable processes and materials – 67% said giving back a percentage of profits to help people in need was important or very important.
  • Branches: 22% of Gen Zers visit a bank branch once a week, and 25% go once every two to three weeks.

"Younger consumers want all the bells and whistles from their banks. A face-to-face service and the ability to speak to one person about all their needs is incredibly important to Gen Zers, however, they're equally as eager for omni-channel support such as telephone, mobile, email and webchat communication," said Quidini CEO and Co-Founder Imogen Wethered, in the release.


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