Alkami report flags 7.4-minute digital account opening as banks vie for primary relationships
ALKT•Alkami said digital account opening averaged 7.4 minutes across financial institutions, while 85% of respondents rated digital experience quality essential or important when choosing a primary provider. Its analysis also found differences in banking preferences across generations.
1. Digital banking findings
Alkami published an analysis urging banks and credit unions to tailor digital journeys by life stage. The report said 81% of Gen Z respondents want providers to understand their goals, 57% seek education from their primary provider and 33% plan to have more financial relationships; 78% of Gen X respondents were comfortable with AI fraud alerts, while 97% of Baby Boomers cited data protection as important.
