Key findings
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- TheCOVID-19 pandemic has made consumers in the U.S. more adventurous in trying out new banks, according to a new study from financial technology leader FIS® (NYSE: FIS).
FIS surveyed more than 1,000 Americans about their banking and financial habits in the past 12 months since the pandemic began. The results showed that 1 in 5 people started using a new banking provider in the past 12 months. Thirty-three percent of those who joined a new bank were looking for better benefits such as higher savings yields and rewards. while seven percent of consumers said they did so to access COVID-19 relief according to the survey.
Big Banks, Credit Unions and Direct Banks Are Winning Consumers
Demographic Disparities amid COVID-19
“COVID-19 has been a huge catalyst in driving new consumer behaviors, from how they shop to how they bank,” said Rob Lee, Head of Digital and Banking at FIS. “All of this change spells opportunity for banks and credit unions to advance their digital offerings and loyalty programs to meet these changing needs and capture new customers. To meet rising consumer demand for new banking experiences, FIS has been heavily invested in digital-first solutions that bring these new services and functionality to banks while also making integration easier than ever.”
About the Data
Figures quoted are from the survey results of 1,015 consumers across the United States between the dates February 5-8, 2021 through the Ipsos KnowledgePanel Omnibus study.
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our employees are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).
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Kim Snider, +1 904.438.6278 Senior Vice President FIS Global Marketing and Communicationskim.snider@fisglobal.com
Source: Fidelity National Information Services