AI or Goodbye: Consumers Demand Smarter Banking, Loyalty at Risk
Financial wellness has emerged as consumers’ top priority, surpassing even health and family relationships. This growing concern is driving an unprecedented demand for AI-driven banking solutions that provide personalised insights, proactive financial management, and smart automation. As customers seek more intelligent ways to navigate their financial lives, banks are under pressure to adopt AI-powered services that enhance engagement and build lasting loyalty.
AI-Driven Banking: A Game-Changer for Customer Loyalty
According to the survey by Personetics, which polled 2,000 bank customers across North America, EMEA, and APAC, an astounding 84% of respondents said they would consider switching banks for better financial guidance. This underscores the growing importance of intelligent solutions that go beyond traditional services to deliver hyper-personalised financial recommendations.
With 74% of consumers stating they would be more loyal to a bank that helps them achieve their financial goals through AI-powered insights, the pressure is mounting on financial institutions to adapt. Customers expect real-time alerts on double billing, overdraft warnings, and automated savings nudges—services that AI can seamlessly provide.
EMEA Leads the AI-Banking Surge
Regional insights from the study reveal that consumers in EMEA are the most enthusiastic adopters of AI-powered banking, with 79% expressing a strong interest—well above the global average of 70%. This trend aligns with the region’s regulatory push towards financial wellness initiatives, making AI-driven banking a natural progression for institutions operating in this space.
Interestingly, while Gen Z (ages 17-27) emerges as the most eager demographic, with 86% expressing interest in AI-driven banking, seniors over 60 are not far behind, at 76%. This challenges the traditional perception that digital banking is primarily a young person’s game. Instead, it signals a broader acceptance of AI-powered solutions across generations, proving that financial wellness is a universal concern.
AI in Banking: No Longer an Option, But a Necessity
“Today’s consumers are digitally savvy and expect advanced, personalised banking experiences,” said Udi Ziv, CEO of Personetics. “Banks must meet this demand by providing comprehensive, needs-based services that leverage AI-driven insights to help customers make smarter financial decisions. These services enhance customer loyalty and drive product adoption, making AI-powered financial wellness a win-win for both banks and consumers.”
The survey’s findings send a clear message: AI is not just an enhancement to banking—it’s the future. As open banking and digital-first services continue to gain traction, banks that fail to integrate AI-driven financial wellness solutions risk losing relevance. The era of passive banking is over; customers now expect their banks to be proactive financial partners, guiding them toward better financial health.
Written by Gloria Methri on February 28, 2025: AI or Goodbye: Consumers demand smarter banking, loyalty at risk
