Millennial & Gen Z Checking Satisfaction Study
Understand How Well You Serve the Next Generation
The Millennial & Gen Z Checking Satisfaction Study evaluates how effectively banks meet the needs of younger customers. It focuses on satisfaction with digital experiences, financial support, and ease of banking—helping institutions understand how to improve engagement, trust, and long-term loyalty among digitally native segments.
What It Measures
Inside the Drivers of Satisfaction for Digital-First Generations
Evaluates satisfaction across key drivers for Millennial and Gen Z customers:
- Digital experience quality (mobile app usability, online banking ease)
- Ease of account management and transactions
- Communication clarity and transparency (fees, policies)
- Customer support effectiveness and accessibility
- Perceived financial support during key moments
- Trust and emotional connection with the bank
Tracks:
Customer satisfaction with primary checking account
- Use of digital channels vs. traditional channels
- Multi-banking behaviors and account ownership trends
- Customer perceptions of support and guidance
- Engagement across communication channels
- Demographic and generational differences (Gen Z vs. Millennial)
Includes:
- Benchmarking across national, regional, and direct banks
- Analysis of satisfaction drivers for younger segments
- Insights into switching behavior and loyalty trends
- Data on digital engagement and support expectations
- Performance comparisons tied to customer experience delivery
How it works
How the Study Captures Gen Z and Millennial Banking Expectations
- Captures voice-of-customer feedback from Millennial and Gen Z checking account holders
- Measures satisfaction across digital, service, and support touchpoints
- Evaluates the impact of perceived financial support on overall satisfaction and loyalty
- Tracks trends in multi-bank usage and customer switching behavior
- Benchmarks performance across bank types, including direct and traditional institutions
Core Strengths
Turn Insight into Competitive Advantage with Younger Customers
- Identifies what drives satisfaction for digital-first generations
- Highlights gaps in digital UX, service delivery, and communication
- Reveals the importance of financial support and trust in driving engagement
- Provides insight into why younger customers switch or diversify banking relationships
- Enables targeted improvements in digital tools and customer experience
Business Impact
Grow Share of Wallet and Retention
• Improves retention by addressing drivers of low loyalty and switching
• Enables stronger digital experiences that meet evolving expectations
• Supports targeted messaging focused on financial empowerment and support
• Identifies opportunities to increase product adoption among younger segments
• Helps banks compete with direct/digital-first institutions on experience and trust
• Provides continuous feedback to optimize engagement strategies
Key Dates
2026
Fielding: June 2026
Publish: September 23, 2026
Press Release: September 29, 2026
Press Release & Award Information
JD Power issues national press releases highlighting key findings and top-to-bottom rankings from award-eligible studies. The brand(s) that rank highest in each award-eligible segment and meet predetermined award criteria will have the opportunity to enter into a licensing agreement through the JD Power Awards Program, which requires subscribing to the study as a prerequisite.
2026 Brands Targeted to be Profiled
Profiled Brands
2026 National Banks
•Bank of America
•Capital One
•Chase
•Citi
•PNC
•TD Bank
•Truist
•Wells Fargo
•U.S. Bank
2026 Regional Banks
•BMO
•Citizens Bank
•Fifth Third Bank
•First Citizens Bank
•First Horizon Bank
•Flagstar Bank
•Huntington
•KeyBank
•M&T Bank
•Regions Bank
•Santander
2026 Online-Only Banks
•Acorns
•Ally Bank
•American Express
•Cash App
•Chime
•Credit Karma Money
•Current
•Dave
•GO2Bank
•MoneyLion
•OnePay
•PayPal
•SoFi
•USAA*
•Varo Bank
•Venmo
•Walmart MoneyCard
*Profiled but not ranked
For Banks Targeting Next-Gen Customers
- Retail banking executives focused on growth and deposit acquisition
- Strategy and segmentation leaders targeting Millennial and Gen Z customers
- Marketing and lifecycle teams building acquisition, onboarding, and retention programs
- Digital and product teams optimizing mobile-first banking experiences
- Customer experience leaders improving satisfaction among younger segments
- Analytics and insights teams seeking differentiated data on emerging customer behaviors
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