Today, the only thing advancing faster than technology innovation is consumer expectations. This rapid pace has important implications for financial services, and the channels in which people prefer to manage and move their money. What factors influence their decision making? How are the financial needs of new generations of households evolving? Find insights in the quarterly consumer trends survey from Fiserv.
Expectations & Experiences: Channels and New Entrants highlights the information financial institutions need to know to about where and how to deliver financial services. The results can inform efforts aimed at increasing consumer satisfaction and loyalty. Key findings include:
- Transaction type is a key driver of channel preference. Rather than preferring mobile or online or branch access, consumers are likely to use all options available to them
- Relationships matter. When consumers consider products such as money market accounts and home equity lines of credit, prior financial institution relationships and company reputation come into play
- Mobile is a way of life. While some mobile technologies like digital wallets are in the early adoption stage, the potential is clear