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Chase Study Finds Consumers Feel More Confident Using Digital Banking Tools

Accelerated by the Pandemic, Consumers Value Banking Digitally

HIGH-LEVEL SURVEY SUMMARY

The study of 1,500 consumers2 looked at their use, habits and preferences with digital banking tools. Accelerated by the pandemic, consumers of all ages said that these tools save time and are a safe and easy way to manage their finances from anywhere.

 

TOP DIGITAL BANKING SURVEY INSIGHTS

Since the start of the pandemic, more than half of Chase’s new digitally active customers are over the age of 50, further demonstrating comfort with this technology across generations.1 Other top insights include:

Fraud Alert

Integral to Everyday Life

 

  • Chase customers said that fraud alerts, electronic bill payments and mobile deposits are their most important digital banking features
  • Half of Chase customers surveyed specifically named the Chase Mobile app as a “must have”
laptop

Impacts of the Pandemic

 

  • 54 percent of consumers said that they use digital banking tools more than they did last year, due to the pandemic
  • Consumer are expected to continue to use of digital banking tools more frequently in 2021
phone

Consumers Prefer to Swipe, Tap & Track

 

  • 80% reported they prefer to manage their money digitally
  • 30% of respondents signed up for Peer-to-Peer (P2P) payment options in the past six months

 

Graph

Chase Customers Say “Yes” to Automated Savings

 

  • 84% of those using Autosave plan to continue doing so as part of their savings approach next year
  • 40% of customers say they look forward to contributing more to savings next year

ADDITIONAL RESOURCES

Looking Ahead 

Looking Ahead 

Allison Beer, Head of Digital at Chase, shares digital banking trends, insights and predictions for 2021

P2P Payments Break Records

P2P Payments Break Records

Zelle Network® 3 exceeds one billion payments in 12 months 
 

Technology Trends

Technology Trends

Rohan Amin, Chief Information Officer at Chase, discusses upcoming technology trends in consumer banking.

To learn more about Chase’s Digital Banking Attitudes Study... click here.

1. Based on Chase customer data in 2020
2. This study is based on a Chase survey fielded between October 20-31 and November 9-10, 2020 among 1,500 total respondents ages 18-65 comprised of Chase customers (750 respondents) and non-Chase customers (750 respondents).
3. Zelle and the Zelle-related marks are wholly owned by Early Warning Services LLC and are used herein under license.