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

UK

Customers are embracing digital banking but have security concerns.

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UK banks have made strides in empowering customers with technology-driven transaction options but continue to underperform in delivering the safety and security customers want. This may be starting to affect customer banking habits.

UK customer priorities are shifting toward digital convenience.

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This year's PACE data shows a shift in what's important to UK customers. Safety and Security are still the top priorities for customers and their importance increased from 2016. Connected anytime, anywhere access via mobile or online channels is now the fourth-most important Key Performance Indicator (KPI) for UK banks. Similarly, though further down the priorities list, digital payments saw its importance increase six points.

U.K - Country - Chart 1

High Street banks dominate, but older customers may look for alternatives.

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U.K - Country - Chart 2

For now, the top 50 global banks are winning the lion's share of customers, most notably millennials, of which 80% report banking with these large providers. However, separate out Senior millennials (26-36) from their younger cohorts, and a lower proportion report banking with the top 50. That's likely because both young and senior millennials report being far less satisfied with their banks than older customers.

UK banks need to transition from transactions to aspirations.

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Well over half of young and senior millennials and nearly half of Gen X have at least one major event planned within the next two to three years. The good news is that the primary banking provider has a significant edge over the competition as the first choice for assistance with finances if they can be there at the time of need to keep competitors from poaching customers.

U.K - Country - Chart 2

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