2017 PACE REPORT

The 2017 PACE Report provides meaningful, actionable insights for becoming and remaining your customers' first choice in financial institutions.

Select Country Insight

  • U.S. Small-Midsize Business
  • U.S. Consumer
  • U.S. Community Consumer
  • United Kingdom
  • Germany
  • India
  • Australia
  • Brazil
  • Thailand
  • Canada
  • Global
Country Reports

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Each report reflects country-specific research to provide better insight into what local consumers want. Choose your country of interest:
Global

USA

For the US market, we have created three meaningful, actionable reports for becoming and remaining the first choice for your customers' financial services. Please select the relevant report below.

  • USA-CONSUMER
  • UNITED KINGDOM
  • AUSTRALIA
  • GERMANY
  • INDIA
  • BRAZIL
  • THAILAND
  • CANADA
  • GLOBAL

U.S. Consumer Report

Banks must do more than offer technology-driven convenience.

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Banks have made strides empowering customers with convenient transaction options. Where banks underperform is with managing the customer relationship and understanding customer wants and needs.

The top 50 banks are winning the battle for millennials for now.

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Currently, 54% of young millennials (18-25) bank with the top 50 global banks, which have been first to market with digital solutions. However, a lower proportion of senior millennials (26-36) report banking with the top 50. There may be opportunities for smaller banks to win customers if they offer the digital solutions that millennials, and more often Gen Xers and baby boomers, want.

U.S.A - Country - Chart 1

The primary bank is the first choice of customers when they want financial assistance.

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U.S.A - Country - Chart 2

Across the board, when asked where they would turn for financial assistance for a key life event, U.S. customers overwhelming cited their primary banking provider as their first choice for assistance when buying a home, starting a business or tackling other key life events.

But competitors step in and capture customers before they contact their primary bank.

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Customers' first-choice intentions are rarely realized, as competitors step in to capture these customers often before they have contacted their primary bank. This can be seen in the low percentage of key accounts held by the primary bank. Banks need to better coordinate outreach and align marketing with the likelihood of key events in customers lives. The key to driving such touchpoints is in-depth, targeted analysis of the demographic, transactional and socioeconomic data within banks own systems.

U.K - Country - Chart 3

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