Gone are the days consumers had one option for banking: in-branch. Now, consumers frequently turn to multichannel and digital platforms to conduct banking activities – with an estimated 28 percent saying they prefer to do so. Winning the loyalty of these “digital consumers” starts by understanding what makes them tick.

In a recent webinar the TMG team attended, “digital consumers” were defined by their preferences to transact, shop, open new accounts and receive consumer support in a digital environment. Consumers choosing to perform at least three out of the four actions listed in a digital setting met the criteria to be “digital.”

Research conducted by CEB revealed the majority of digital consumers believe their financial institutions (FIs) should provide resources facilitating financial well-being. How successfully FIs help consumers meet their financial goals is key to gaining and retaining digital consumer loyalty.

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