1 in 5 US consumers changed their bank during pandemic, FIS study

Wednesday 24 March 2021 14:41 CET | News

A study by FIS has shown that the COVID-19 made US consumers more interested in trying out new banks.

FIS surveyed more than 1,000 Americans about their banking and financial habits in the past 12 months since the pandemic began. The results showed that 1 in 5 people started using a new banking provider since the COVID-19 pandemic began. 33% of those who joined a new bank were looking for better benefits such as higher savings yields and rewards, while 7% of consumers said they did so to access COVID-19 relief.

37% of those surveyed opted for a large national or global bank when starting a new banking relationship in the past year. Credit unions were the second-most popular choice for consumers with 18% opening accounts at these institutions.

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Keywords: banks, COVID-19, study, customer experience, digital banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United States
This article is part of category

Banking & Fintech

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