JERSEY CITY, N.J.—A new survey sheds light on the current banking preferences of consumers.
The overwhelming majority of respondents (91%) in the survey conducted by Provident Bank stated they now conduct banking through digital channels, and more than half of those consumers (53%) said they switched to digital banking as a result of the pandemic.
Although respondents surveyed currently prefer online banking to traditional in-branch banking, there is still a significant number of consumers (58%) who say they continue to visit their local bank in person. Forty-four percent of those respondents said they only visit traditional branches in person to handle a transaction that cannot be completed online, but 25% said they visit the branch because they prefer face-to-face interaction, New Jersey Business reported.