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Leveraging Digital
Trust

As the global pandemic forced many banks to either cut back their hours or shutter physical locations, many consumers quickly shifted their banking to digital options, including online and mobile channels. A recent survey by PYMNTS of over 2,200 U.S. banking consumers found 30 percent of respondents had opened new bank accounts in the previous three months. Significant shares of respondents said trust and security were the key reasons they decided to open new accounts with their current bank. 

That’s not the only way that digital banking is changing during the pandemic download the report, Leveraging the Digital Banking Shift, for more insights into how consumers are shifting their digital banking habits. 

Among the findings outlined in the report:

  • 55.7% of respondents opened up new accounts at their current bank because they trusted the bank.
  • 46% of respondents use digital channels either “somewhat” or “much more” than they did before the pandemic.
  • 44% of respondents said they plan to maintain their new digital banking practices after the pandemic.