Digital, and mobile specifically, has had a massive impact on how consumers manage their finances—that’s for sure. However, while digital and mobile bank self-service offerings are most popular, new research finds that physical bank branches remain an important touch point.

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Adobe Consumer Banking Insights
Adobe Digital Insights | October 2019
Research partner:

2. © 2019 Adobe Inc. All Rights Reserved. Adobe Confidential.
2
Methodology
Who participated
in this research?
How was this
research
conducted?
Sample Frame
• 1,006 US Adults completed this survey online
• To qualify:
• Aged 18 or older
• Own a mobile device
• Participants were recruited from an actively managed online panel
(Dynata). As such, this should be considered a non-probability sample.
• Participants were recruited using a “nationally representative outgo” in
order to closely align to the US population demographics.
• Participants are incented using rewards points for participation
• Research was conducted between October 7-10th, 2019
• No weighting of data was required.
• Margin of error is +/- 3.04 percentage points at the 95% confidence
level, with a margin of +/-6% between age groups.
• Participants were required to complete the survey online, and own a
mobile device (mirroring the adult online population in the US)
Image Credits: 123rf.com & icons8.com
Advanis is a member of the Canadian Research Insights Council (CRIC) and confirms that this research fully complies with all CRIC Standards including the CRIC Public Opinion Research Standards and Disclosure Requirements.
This research was sponsored by Adobe and conducted by Advanis. For information about data collection, please contact Lori Reiser (lori_reiser@advanis.net 519.340.0125)

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Mobile/digital banking is popular…
3
Satisfaction with current digital banking
experience
3% 17% 31% 48%
1=Completely Dissatisfied 2
3 4
89% Mobile / Web banking user
Mobile banking features used at least weekly
67%
36%
30%
24%
16%
1%
1%
Check balance
Pay bill
Transfer btwn…
Mobile check deposit
Transfer money to…
Other
None
• Nearly all consumers use their bank’s
digital/mobile offerings.
• Those consumers generally use mobile
for quick transactions like checking their
balance, paying a bill, and transferring
between accounts.

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…But there’s room to delight with innovative digital offerings
4
Perception of a bank that offers limited
or no online or mobile services (top 4)
44%
37%
29%
25%
Behind the times
Old fashioned
Not for me
Not innovative
Compared with the rest of your digital life,
current bank's digital offering is…
35%
62%
3%
Advanced
Average
Behind
• Consumers aren’t exactly ‘wowed’ by
their bank’s digital offerings, especially
compared to the rest of their digital lives.
• Top labels for banks that offer no or
limited mobile services include: “Behind
the times,” “Old fashioned,” “Not or me,”
and “Not innovative.”

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3%
9%
18%
22%
15%
25%
8%One day ago
In the past week
In the past two weeks
In the past month
In the past year
More than one year
ago
I haven't visited a
physical bank branch
The local bank branch is still important to consumers
5
70% visited a bank branch in the last
month at least
• Despite the popularity of mobile/digital
bank offerings, consumers are still going
to the bank. A vast majority (75%)
believe the bank branch is important.
• More than half (66%) think having face
to face customer service is important.
• Deposit (54%), withdrawing paper
money (35%), and face-to-face service
(24%) are the most common reasons to
visit banks.

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Security is no. 1 when selecting a bank
6
Top 1 important factor when selecting a bank
31%
18%
15%
10%
9%
8%
4%
4%
1%
Importance of privacy and security when you digitally enroll for a
banking service
6% 18% 76%
NET Unimportant Neither important nor unimportant NET Important
28% 22% 50%
NET Disagree No opinion NET Agree
With online-only banks, I worry about the safety of my
finances
Tolerance for security breaches increases with age.
While 54% of Gen Z would change banks after a security
breach, this declines to only 38% of Gen X and 27% of
Boomers.
Security
Location of branches
Reputation
In-person support
Local brand/credit union
Digital/mobile app
Nationwide reach
Recommended by a family member or
friend
Other
Gen Z: 62%

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Most would not choose a bank if digital options were not
available…
7
Would not do business with a bank that
didn’t offer digital or mobile services
59%
Importance of the ability to start and finish an application
digitally i.e. not having to go in-person to sign documents or
print documents out and send through the mail
24% 31% 44%
NET Unimportant Neither important nor unimportant NET Important
• More than half (59%) wouldn’t do
business with a bank that didn’t offer
digital/mobile services.
• One activity consumers would like to do
more digitally is start and finish an
application across digital and physical
locations.

8. © 2019 Adobe Inc. All Rights Reserved. Adobe Confidential.
…one way forward is digital enrollment
8
What, if any, financial
documents have you signed
digitally with your bank?
18%
17%
9%
7%
6%
6%
1%
57%
Credit card application
New bank account
Loan agreement or renewal
Mortgage agreement or
renewal
Investment (trade/deposit)
Investment (new account)
Other
I have never digitally signed a
document with my bank
Would not
choose a bank if
it did not offer a
digital
enrollment
option
54%
If you had to open it in person,
would you use a bank to…
79%
78%
73%
Apply for a loan
Apply for a mortgage
Apply for credit card

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17%
12%
17%
18%
14%
14%
4%
4%
Less than $20,000
$20,000 - $29,999
$30,000-$49,999
$50,000-$74,999
$75,000 - $99,999
$100,000 to $149,999
$150,000 to $199,999
$200,000 or more
Gender
20%
20%
38%
21%
Region
10
Money 20/20 (October 2019)
d0 -- Where do you live? Base: All respondents (1,006)
d1 – What is your gender? Base: Excluding those who said prefer not to answer (1,004)
d2 – In what year were you born? Base: All respondents (1,006)
44 -- Do you have any children under the age of 18? Base: Excluding those who said prefer not to answer (1,004)
D5 -- Which of the following mobile devices do you own? Base: All respondents (1,006)
d6 – What was the total income of your household in 2018? Base: Excluding those who said prefer not to answer (956)
Profile of Participants
Male
51%
Female
49%
Gen Z: Born
1996 - TBD
Millennials: Born
1977 - 1995
Generation X: Born
1965 - 1976
Baby Boomers: Born
1946 - 1964
Traditionalists: Born
1945 or earlier
8%
36%
17%
35%
5%
Household IncomeAge
49%
3%
48%
Smartphone only
Tablet only
Both smartphone and tablet
Device
26%
Have children under 18