Better UX, security, and availability of digital banking have taken a hold on the Gen Zers
Research reveals how many Gen Zers are into digital-only banks. Source: unsplash.com
Sykes.com has conducted research revealing that 37.5% of the American Gen Zers would only choose a digital or online bank.
The research has found that 38.7% of women and 36.1% of men would open an online bank account.
As to regional differentiation, those living in the West, South, and Northeast regions of the US were quite open to online-only banking with 39%, 38%, and 40%, respectively. The representatives of the Midwest were not too far behind – 32.5%
The report also found that 71% of 18- and 19-year-olds take advantage of mobile banking solutions. This way, even if they haven’t entirely embraced digital banks, they’ve embraced digital banking.
We’ve reported that 68% of Millennials and Gen Xers think they will provide financial contributions to the parents if they outlive their retirement savings.
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
