2017 PACE REPORT

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

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  • 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

Life Events

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Where banking meets life.

Opportunities abound for financial institutions everywhere to grow by better positioning themselves as advisor and customers, helping them plan and save for life events and realize their financial aspirations.

Millennials and Gen Xers expect needing financial assistance in the near future.

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Banking providers need to understand customers aren't just looking for a loan or brokerage account. They are looking to fulfill their aspirations around planned life events. More than four out of five (83%) senior millennials and three quarters of Generation X have at least one major event planned within the next two to three years.

Global - Life Events - Chart 1

But customers, especially millennials, have a hard time finding key information and services quickly.

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Global - Life Events - Chart 2

PACE data shows that younger customers have had the most difficulty engaging with their primary banks when seeking assistance or help with obtaining a new financial product. In fact, 39% of young millennials report having difficulty getting all the information they need to make an informed decision without visiting a branch.

One potential solution is to offer feature-rich, personal-financial management apps.

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Many customers want a more advisory and less transactional relationship. Yet less than one third of customers have financial advisors. In general, perceived affordability and having too few assets to warrant a financial advisor are barriers to providing financial advice. But these drawbacks could be mitigated with personal financial management apps that include features such as online chat, educational forums, and interactive tools.

Global - Life Events - Chart 3

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