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Infographic
Jul 11, 2022

How Gen Z Is Reshaping Banking Strategy for Financial Institutions

Capturing 2026’s 4 Million New Accounts

JH-Brand-ThoughtLeadershipDisruption-FY26-InfographicRDPIMage-GenzTheFutureofBanking-1420x900

Failing to taking account of Gen Z’s unique needs and preferences could have devastating consequences for the long-term growth and viability of financial institutions.

Born between 1996 and 2010, Gen Z – the first generation of “digital natives” – is driving the next three-to five years of financial services. Studies indicate that nearly 4 million Gen Z consumers will open new bank accounts in 2026. Their expectations for mobile banking are challenging how financial institutions approach account opening, deposit growth, and ease of use.

Gen Z by the Numbers

     
4 Million
Gen Z consumers will open new accounts in 20261
72%
of Gen Z prefer digital-only platforms for their financial activities2
69%
of Gen Z use their bank’s mobile app weekly3
42%
of Gen Z switched their primary banking relationships due to dissatisfaction with mobile banking options4
$1
of every $8 collected through third-party apps is all that ever finds its way back to the financial institution5
30+
is the number of financial relationships Gen Z couples typically have6
54%
of Gen Z use Buy Now, Pay Later (BNPL) vs. 50% that use credit cards7
44%
of Gen Z rely on social media for financial advice compared to 39% consulting a bank representative8
14%
of Gen Z trust traditional banks “a lot,” compared with 29% of Millennials9

You face pressure from every direction, from generational change and fintech disruptors to emerging models like tokenized money. Discover where opportunity is taking shape and how you can adapt faster, invest smarter, and compete with confidence in the 2026 Strategy Benchmark.

Sources

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