“The findings suggest consumers increasingly see digital banking and physical branches as complementary rather than competing channels. Eighty-three percent said they have greater confidence in a digital banking provider that also operates physical branches, including 87% of Gen Z, 85% of Millennials, 82% of Gen X and 75% of Baby Boomers. Consumers cited resolving complex issues, getting personalized guidance from a knowledgeable banker and discussing important financial decisions privately as the top reasons for visiting a branch.
That preference persists even as AI use grows. The Santander report found 42% of respondents have used AI during the past year to help with a financial task or decision, led by 50% of both Gen Z and Millennials, compared with 34% of Gen X and 22% of Baby Boomers. The most common uses were finding ways to save money or reduce expenses, making savings and investment decisions and understanding rates, fees, terms or financial documents.”