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Three-quarters of consumers are only moderately satisfied or less with their primary financial institution
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ORLANDO, Florida, USA, Sept. 02, 2026 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN), a global leader in banking technology, today announced new research with Celent highlighting a widening gap between what US banking customers increasingly expect and banks’ ability to deliver.
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Published in “The Banking Expectation Gap: US Consumer Edition,” the findings identify a “switchable middle”: the 75% who are only “moderately satisfied” or less with their primary financial institution. At the same time, 62% of US banks say it has become more difficult to win and retain customers over the past 12 months.
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According to Celent, banks must respond to a new era of customer engagement, shaped by AI, agentic capabilities, and rising expectations for faster, more advisory, and personalized services. At the same time, trust has a significant impact on a customer’s decision to stay or switch banks. Those banks constrained by legacy systems will find it harder to meet rising expectations for smarter, more responsive banking.
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Key findings from the research show that:
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Payments, Fraud Protection, Value, and Digital Emerge as Weak Spots
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Customers are dissatisfied because banks are underperforming in several areas that matter directly to their everyday experience: payments, security and fraud protection, and value for money.
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- Nearly half of consumers are dissatisfied with their payment services.
- 42% cite dissatisfaction with security and fraud protection.
- Over a third are “least satisfied” with value-based offerings (fees, rates, and rewards).
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Capturing the Switchable Middle
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Consumers are willing to consider switching banks when competitors offer clearer financial value and stronger digital capabilities. Four out of the top six switch drivers are related to value or trust.
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- 51% would consider switching for better rates and fees on credit products.
- 42% say more personalized fee structure or rewards.
- 39% cite better online and mobile banking features as a reason to switch.
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Michael Bernard, Principal Banking Analyst, Celent, said: “The switchable middle provides both a threat and an opportunity for banks. Consumer demand is shifting from access and convenience toward personalization, trust, and guidance. Banks that can combine modern digital experiences with relationship-aware personalization and credible human support will be best positioned to retain customers and win share from both traditional competitors and digital-only challengers.”
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Brian DuVal, President, North America, Temenos, said: “The challenge for US banks isn’t a lack of ambition. It is whether their technology foundations can keep pace with rising customer expectations. Modernization should translate into faster innovation, greater product flexibility and trusted AI-enabled experiences. Technology change creates competitive advantage when customers can see and feel the difference.”