Contrary to popular belief, younger generations still value physical access to their banks and are not fully behind the shift to 100% digital banking, according to a study published on Monday by BNP Paribas Fortis.
The study explored the preferences of 16- to 27-year-olds regarding bank accessibility. It revealed that only 36% of young respondents support fully digital banking solutions. Meanwhile, 25% prefer a primarily digital point of contact, 20% favour a hybrid approach, and 19% lean towards mainly physical interactions.
More broadly, accessibility remains a key priority for bank customers. Nine out of ten participants in the study identified accessibility as a decisive factor when choosing a bank. This highlights the importance of maintaining a balanced network of digital and physical points of contact.
“Accessibility is a significant challenge for banks. The ‘omnichannel’ banking model, where digital and physical points of contact seamlessly integrate, will be crucial in the future,” said Laurent Loncke, Head of Retail Banking at BNP Paribas Fortis.
The study surveyed 1,726 individuals who are clients of six banks: Argenta, Belfius, BNP Paribas Fortis & Fintro, Crelan, ING, and KBC, offering a broad representation of consumer preferences.
