As the Internet has changed so many of our daily tasks, so too has it altered the way we bank.
Americans are busier, clock longer hours, and work remotely more than ever before, and the ways we access our cash have evolved with our lifestyles. Although traditional aspects like customer service and branch locations still matter, bank customers today demand optimal online and mobile experiences too, says Rob Rubin, director at bank consultancy firm Novantas and creator of account shopping website FindABetterBank.com.
“Convenience is always the leading driver,” he says. “People care about digital features like mobile banking, mobile check deposit, and peer-to-peer transactions.”
Our research confirms this: 68% of Americans rated online banking as “very important” in a recent survey conducted for MONEY by market research firm Morning Consult. That’s a larger share than for 20 other services or features, behind only customer service and fraud protection.