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‘Experience Factors’ Have Biggest Impact on Millennials’ Banking Choices, New Study Finds

Medallia Institute finds that Millennials don’t care as much about convenience; winning their loyalty is all about the experience

PALO ALTO, Calif. — [Press Release] — The Medallia Institute finds that overall customer experience has the single greatest influence on how consumers decide where to bank. Of 2,000 U.S. Millennials and Baby Boomers surveyed, 63% of Millennials and 54% of Boomers cite personal experience, reviews or recommendations as being the most influential when choosing where to open a checking account. Beyond choosing a bank, 80% of Millennials also c ...

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