It’s no secret that today’s consumers expect more than generic messaging from the brands they trust. And yet, new data suggests that banks are falling short on personalization, pushing many customers to consider other options. According to a study from Motivation AI company Persado, 45% of consumers would consider switching banks for one that prioritizes a more personalized approach.
The study, conducted by Researchscape, polled over 1,000 U.S. adults with at least one bank account. The findings shine a light on a significant gap between consumer expectations and what banks are currently delivering in their digital communications. Here’s a closer look at what customers want and how banks can use AI to rise to the challenge.
Personalization Isn’t Just a “Nice-to-Have” Anymore
The desire for more tailored interactions is widespread across all generations, with 45% of respondents saying their primary bank knows them only “somewhat, hardly, or not at all.” Key findings include:
- Out-of-Touch Communication: Half of respondents feel that bank communications come across as formal, dated, and disconnected from their real needs.
- Lack of Personalization: More than half (54%) reported that bank messages felt impersonal, with Baby Boomers (72%) and Gen X consumers (59%) particularly dissatisfied.
- Irrelevance: About 39% of consumers found bank messages to be somewhat or entirely irrelevant, with Boomers (55%) feeling the sting of irrelevance the most.
- Emotional Disconnect: Two-thirds (66%) of respondents believe that bank communications fail to connect emotionally, a trend even more pronounced among older generations.
- Trust Issues: When asked if communications from their banks inspired trust, 45% admitted they felt little to no positive impact.
Our President and Co-founder at Persado, Assaf Baciu, highlighted the opportunity banks have to build trust by leveraging AI-driven insights for greater personalization, explaining that “AI has paved the way for banks to create highly relevant, engaging, and compliant content at scale. With 75% of consumers viewing AI as acceptable in banking, there’s little reason for banks to delay in utilizing AI to make their communications more relevant.”
Can AI Turn the Tide for Bank Marketing?
The good news is that AI presents banks with a clear pathway to build trust and engagement. The survey explored consumer attitudes toward AI use in banking, with results suggesting a high degree of openness to AI-driven personalization.
Real-World Success Stories and the Road Ahead
Our new report, The State of AI in Financial Services Marketing: Expectations, Uses, and Impact, shares findings from the consumer study, but also dives into applying purpose-built, low-risk AI technology across customer journeys in highly regulated industries—detailing:
- Factors driving the explosion of AI in the industry
- Understanding Motivation AI as purpose-built solution for content generation
- How AI can be applied across dozens of use case throughout customer journeys
- Real-world bank marketing successes for email, web banners, & push notifications
- Ensuring AI delivers productivity, performance, and compliance guardrails
- Common barriers to AI adoption—and how to overcome them
The State of AI in Financial Services Marketing: Expectations, Uses, and Impact
“Motivation AI Company Persado Reveals 45% of Consumers Would Switch Banks For More Personalized Experiences”
Persado’s enterprise generative AI understands variant intent to create emotion-informed content proven to motivate individuals to act. Founded in 2012, Persado has generated and analyzed performance data from 120,000 campaigns and 150 billion customer interactions for Financial Services alone. Grounded in this specialized dataset of transactional data and deep learning models, Motivation AI helps banks connect more meaningfully with customers across their entire journey, driving not only better engagement but also long-term loyalty.
For banks, the takeaway is clear: the future of customer loyalty lies in personalized, engaging, and trusted communication. By making personalization a priority and enlisting low-risk, proven AI, banks can transform transactional relationships into meaningful connections, building trust with a generation of customers who expect to be known and valued.
Our Motivation AI platform is trusted by 8 of the 10 largest U.S. banks to deliver personalized, emotion-informed communications that are proven to drive engagement and build loyalty.
To learn more about our performance-driven enterprise AI that complies with regulatory governance, visit the Persado Financial Services page, or reach out to our solution experts.