Treasury Prime - How Consumers Use Digital Banks - September 2022 - Discover why digital-only banking services have won customers' hearts — but not their primary bank accounts

How Consumers Use Digital Banks

Study Finds Fewer Than 10% of Consumers Use FinTechs as a Primary Bank 

The findings come from a PYMNTS survey of 2,124 US consumers for the “How Consumers Use Digital Banks” report, a collaboration with Treasury Prime, which showed that while two-thirds of consumers have used FinTechs for some aspect of banking services, just 9.3% call them their primary bank.

Inside the September Report

  • 36%: Share of consumers highly interested in using a digital bank in the next year
  • 47%: Share of consumers that say they are hesitant to switch to a digital bank
  • 90%: Share of baby boomers who say they will not consider switching to a digital bank

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