US Account Opening Feature Demand Report 2023

Building an Application Experience Based on the Features Consumers Want Most

Report by Tiffani Montez  | Jul 24, 2023
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Table of Contents
In-Flight Deposits and Gen Z Will Drive New Account Openings in 2023
Step 1: Account Selection
Step 2: Expectation Setting
Step 3: Account Funding
Step 4: Application Submission
Step 5: Customer Support
Step 6: Updates and Outcomes
Methodology
Survey Demographics
Appendix: Interactive Demand Charts
Sources
Media Gallery
About This Report
US consumers will open 5.2 million new bank accounts digitally this year. Our exclusive consumer survey data reveals which emerging mobile features banks should invest in to win over customers.
Topics
Banking
US
Table of Contents
In-Flight Deposits and Gen Z Will Drive New Account Openings in 2023
Step 1: Account Selection
Step 2: Expectation Setting
Step 3: Account Funding
Step 4: Application Submission
Step 5: Customer Support
Step 6: Updates and Outcomes
Methodology
Survey Demographics
Appendix: Interactive Demand Charts
Sources
Media Gallery

In 2023, US consumers will open 5.2 million new bank accounts digitally, per our forecast. Growth will be driven by deposit flight from bank stability concerns and the influx of Gen Z consumers entering the market. To win these new accounts, banks should prioritize adding consumers’ most-wanted mobile account opening features. This study reveals what they are.

Key Question: Which emerging mobile account opening features do consumers value the most?

Top 5 Most In-Demand US Mobile Account Opening Features, April 2023 (% of respondents calling the feature “extremely valuable”)
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KEY STAT: US consumers’ top-valued features enhance the speed, transparency, and security of mobile account opening.

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Table of Contents

  1. In-Flight Deposits and Gen Z Will Drive New Account Openings in 2023
  2. Step 1: Account Selection
  3. Step 2: Expectation Setting
  4. Step 3: Account Funding
  1. Step 4: Application Submission
  2. Step 5: Customer Support
  3. Step 6: Updates and Outcomes
  4. Methodology
  1. Survey Demographics
  2. Appendix: Interactive Demand Charts
  3. Sources
  4. Media Gallery

Charts in This Report

Top 5 Most In-Demand US Mobile Account Opening Features, April 2023 (% of respondents calling the feature “extremely valuable”)Most Valuable Account Selection Features According to New US Checking Account Users, April 2023 (% of respondents calling the feature “extremely valuable”)
Most Valuable Expectation Setting Features According to New US Checking Account Users, April 2023 (% of respondents calling the feature “extremely valuable”)Most Valuable Account Funding Features According to New US Checking Account Users, April 2023 (% of respondents calling the feature “extremely valuable”)
Most Valuable Application Submission Features According to New US Checking Account Users, April 2023 (% of respondents calling the feature “extremely valuable”)Most Valuable Customer Support Features According to New US Checking Account Users, April 2023 (% of respondents calling the feature “extremely valuable”)
Most Valuable Updates and Outcomes Features According to New US Checking Account Users, April 2023 (% of respondents calling the feature “extremely valuable”)Demographic Summary of Respondents, US Account Opening Feature Demand Report 2023 (% of total, July 2023)

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authors

Tiffani Montez

Contributors

Caitlin Cahalan
Researcher, Financial Services
Eleni Digalaki
Principal Analyst
Ona Koehler
Senior Director, Benchmarking
Na Li
Director, Primary Research

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