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

Digital Is Not Optional

Community banks can no longer ignore or delay the digital revolution.

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Customers of community banks are generally older but they still increasingly expect to access banking services at any time, from anywhere. Not fully recognizing the importance of digital (especially mobile) in attracting new, younger customers may hurt community banks going forward.

Most customer interactions with community banks are now done digitally.

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Right now, about 72% of all customer interactions with a community bank are done digitally, via online or mobile banking channels. This cuts across all customer segments, from millennials to baby boomers, and makes it clear that digital banking is the foundation of the modern customer relationship.

U.S.A Community Customer - Digtial Payments - Chart 1

Mobile adoption is accelerating, but coming from a slower start at community banks.

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U.S.A Community Customer - Digtial Payments - Chart 2

Growth in mobile transactions and payments year over year shows mobile adoption is accelerating, but coming from a slower start at community banks. Mobile adoption is being driven by millennials, especially young millennials, who are far more likely to use a community banks mobile app and make purchases with it.

But millennials are the smallest group of community bank customers.

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While millennials may be the biggest driver of digital banking, they're the smallest customer segment for community banks. This speaks to the overall problem of community banks being slow to react to the needs and desires of the next generation of banking customers. They can no longer ignore or delay the digital revolution.

U.S.A Community Customer - Digtial Payments - Chart 3

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