1.
Banking on Value
Rewards, Robo-Advice
and Relevance
2016 North America
Consumer Digital
Banking Survey

2.
2Copyright © 2016 Accenture All rights reserved.
What do North American
customers want from their bank?
We asked them.
Accenture surveyed over 4,000 consumers in
North America to understand their attitudes
about banking today and what their expectations
are in the future.

3.
3Copyright © 2016 Accenture All rights reserved.
VALUE IS HOT
Four key findings emerged showing banks must provide
value, strengthen customer relationships and deliver
superior customer service to consumers or risk losing them.
SWITCHING IS
ON THE RISE
ROBO-ADVICE
IS WELCOME
BRANCH
INTEREST IS UP

4.
4Copyright © 2016 Accenture All rights reserved.
KEY FINDING 1
Value is hot
Consumers want deals and discounts and are willing
to exchange data for convenience and relevance.
DEALS &
DISCOUNTS
ADDED
CONVENIENCE
RELEVANT
RECOMMENDATIONS
want their banks
to locate discounts on
purchases of interest
want a simplified
home buying process
want product/service
recommendations and
will share personal
data to get it
45% 41% 63%

5.
5Copyright © 2016 Accenture All rights reserved.
KEY FINDING 2
Switching is on the rise
Consumers expressed readiness to switch banks
if they don’t get the experience they expect.
NOT AN
OBSTACLE
NO STRINGS
ATTACHED
BIGGEST
WINNERS
of consumers
switched banks
view their banking
relationship as
transactional,
not advice-based
combined net gain
of customers by
virtual banks and
payment providers
11% 79% 14%

6.
6Copyright © 2016 Accenture All rights reserved.
KEY FINDING 3
Robo-advice is welcome
Consumer intrigue with use of automation and digital banking
represent opportunities for banks.
BANKING RETIREMENT INVESTMENTS
are willing to bank
using robo-advice
want advice
on planning for
retirement
want investment
advice
46% 69% 79%

7.
7Copyright © 2016 Accenture All rights reserved.
KEY FINDING 4
Branch interest is up
Consumers expressed renewed interest in the branch
where they can connect with human advisors.
THE FUTURE MILLENNIALS CONVENIENCE
anticipate
using branches
in the future
of the 18-34 age group
anticipate using bank
branches in the future
who use the branch
prefer “full service
branches”
87% 86% 61%

8.
8Copyright © 2016 Accenture All rights reserved.
WIN THE DATA GAME
Banks must refine data collection to preserve customers’ data privacy.
Combine digital trust with predictive analytics to deliver value for customers.
BE RELENTLESS ABOUT CUSTOMER SERVICE
From business strategy to day-to-day culture, superior customer service
must be consistent and continually refined based on customer feedback.
REINVENT LOYALTY
Leverage digital marketing platforms to capture customers’ implicit and
explicit intent so banks can connect in ways that matter.
EXPLORE NEW ROLES
Banks can provide more value to customers by becoming a go-to resource
for how they live and work, rather than being a pure financial utility.
MASTER “PHYGITAL” EXPERIENCES
Developing banking channels in isolation from one another is risky.
Customers want seamless “phygital” experiences that blend physical and digital.
Delivering new value starts now
To provide new value, retail banks must do things differently
and do different things. Five key strategies:

9.
16-1278U
For more information
Read the complete survey results at:
www.accenture.com/consumerbankingsurvey
Copyright © 2016 Accenture
All rights reserved.
Accenture, its logo, and
High Performance Delivered
are trademarks of Accenture.
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@BankingInsights
#NABankStudy
About Accenture
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Accenture drives innovation to improve the way the world works and lives.
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