Article/Insight

VIDEO: Financial Services Intelligence Update — March 2024

Despite a challenging year for retail banks in 2023 due to factors like bank failures, inflation, and declining consumer health, customer satisfaction with primary banks only slightly declined, registering at 644 out of 1000 on the JD Power scale. However, satisfaction declined in four out of seven dimensions, with millennials leading the decline, particularly in levels of trust.

What do banks need to do to win over millennials? Watch the latest Financial Services Intelligence Update for key takeaways from the 2024 U.S. Retail Banking Satisfaction Study and discover what areas banks need to focus on to retain and grow younger generations before the relationship solidifies with another institution.

BONUS: Download our exclusive insights detailing each generation's overall satisfaction (OSAT) with their primary retail bank, followed by satisfaction levels with the seven dimensions that determine overall satisfaction.

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JD Power 2024 U.S. Retail Banking Satisfaction Study

The J. D. Power Retail Banking Satisfaction StudySM  is the longest-running and most in-depth, independent analysis of retail banking customers available. While some things have changed, banks have continued to rely on this invaluable study for unbiased intelligence about retail banking customers’ satisfaction with their primary financial institution.

The study measures customer satisfaction with retail banks in 15 geographic regions. Read key insights from this year’s press release and view the highest-ranking banks and scores, by region.

Read the 2024 U.S. Retail Banking Satisfaction Study Press Release.

View Press Release

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Miles Tullo 

Miles Tullo is the Managing Director for the JD Power Financial Services team. He oversees the company’s consumer payments program, focusing on point-of-sale choice and non-credit card payment methods. Drawing from over 20 years of experience in both payments and mortgage lending, Miles brings valuable expertise to clients. 

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