The Banking Expectation Gap: Global Consumer Edition (Temenos)

Summary

• Celent surveyed 2,515 global consumer banking customers across five global regions to assess satisfaction, switching attitudes, and technology expectations.p.6
• Nearly three-quarters of global consumers report being only moderately satisfied or less with their primary financial institution.p.4
• Over half (53%) of global consumers express dissatisfaction with their payment services, including fast, reliable real-time capabilities.p.9
• A total of 56% of retail banks report that winning and retaining customers has become more challenging over the past year.p.5

Key insights

1. In Europe, 75% of banking customers report being moderately or very satisfied with their primary financial institution.p.7
2. A majority of bank technology leaders expect Generative AI to exert the largest impact on their business over the next five years.p.15
3. Consumer willingness to use conversational AI interfaces reaches 68% for open-ended questions, while only 10% state they would not.p.18
4. Privacy and data security stands out as the top concern among global consumers regarding bank AI usage, cited by 47%.p.20
5. Regulatory mandatory changes and legacy platform limitations are cited by 48% and 46% of banks respectively as major innovation barriers.p.24