Create Great Borrower Experiences

As holiday bills continue to be paid off and tax refunds get set to hit consumers’ bank accounts, the number of consumers in the U.S. classified as financially unhealthy[1] is 68%, as measured by JD Power. That marks an improvement from 72% last month, but it hardly spells widespread relief.

A marketer’s guide to leveraging regional customer satisfaction insights to strengthen trust, loyalty, and brand differentiation.Banking Customer Insights driven by JD Power ResearchIn today’s crowded financial services landscape, customer experience has become one of the most powerful—and credible—marketing differentiators. With more than half of retail banking customers open to switching banks within the next year, marketers face a clear mandate: earn trust, prove performance, and communicate value in ways that resonate locally and emotionally.For CMOs and agencies serving retail banks, this environment elevates the importance of unbiased, third‑party customer insights. Data‑driven performance signals not only inform smarter marketing strategies—they also provide the proof points that build confidence, credibility, and brand preference.Unbiased customer insights help banks understand what matters most, allowing banks to craft more effective marketing strategies. Messaging should resonate with regional audiences while reinforcing the bank’s reputation as a trusted institution. By addressing the priorities of different customer segments, banks can fight attrition and strengthen their competitive position. Regional Variations in Customer Satisfaction A one-size-fits-all national approach can fall short in addressing local market differences—especially those around trust and reputation. JD Power research reveals that customers in the New England, Northwest, Upper Midwest and California regions have lower-than-average scores on critical-to-success metrics. These include overall satisfaction; level of trust; likelihood to say they definitely will reuse the bank; and reputation. This regional performance gap is driven in part by a divide among age groups. For example, Gen Z customers in California have a lack of confidence in regional and midsize banks and a preference for national banks. The opposite is true in the New England and Upper Midwest regions, where Gen Z customers display a lack of confidence in national and regional banks and a preference for midsize banks.Banks on both sides of the size equation must proactively highlight their reputation for satisfying customers to win new business and retain existing accounts. Marketing Strategies Based on Data-Driven Regional Insights Effective regional marketing requires a nuanced and informed approach with strategically tailored messages that speak to regional customer preferences. Regional marketing campaigns help banks to meaningfully engage customers, reinforce a reputation for exceptional customer satisfaction, and build lasting relationships that inspire retention. Marketers can make the most of regional consumer data with messaging that meaningfully addresses the concerns of regional banking customers. Emphasizing Reputation and SecurityA bank’s reputation remains a top reason why customers select a bank, while “security/fraud” is the main reason why customers replace a previous checking account with a new one. Marketers should highlight credible proof of performance, customer satisfaction, and the bank’s demonstrated strength in security and fraud prevention to reinforce and promote their bank’s positive reputation in regional markets. By pairing marketing efforts with both reputation management and clear communication of security and fraud‑prevention capabilities – grounded in real‑world customer experience data – banks can more effectively communicate their trustworthiness, their commitment to protecting customers, their ability to deliver a satisfying experience, and their overall brand valueDeveloping Regionally Tailored Campaigns Banking customers in different regions have distinct priorities and expectations when choosing and working with a financial institution. To connect with customers effectively, banks must create tailored campaigns that address regional concerns, demonstrate their commitment to local markets and highlight how they meet customer needs. Final Thoughts The banking landscape is changing rapidly. Staying competitive relies on leveraging every advantage. Credible third-party customer insights are more important to marketing efforts across the banking industry than ever before, especially for banks serving clients in a variety of regions and those competing with national players.Customer insights from reliable sources are useful to banks looking to stand out in a competitive market and understand how they perform when compared with national and regional competitors. Data-driven rankings and recognitions also help consumers avoid exhaustive searches and piecemeal comparisons, saving time, and frustration, and giving a more accurate picture of available choices. The results of the JD Power 2026 U.S. Retail Banking Satisfaction Study are coming soon. Stay tuned for the results. In the meantime, explore insights from the JD Power 2025 U.S. Retail Banking Satisfaction Study. Read the 2025 press release >[1] JD Power defines generational groups as Pre-Boomers (born before 1946); Boomers (1946-1964); Gen X (1965-1976); Gen Y (1977-1994); and Gen Z (1995-2006). Millennials (1982-1994) are a subset of Gen Y.

The following is based on data gathered through the JD Power Churn Data and Analytics 2025 fourth-quarter report. Review insights on this quarter’s results in the latest industry briefing: FinTech Brands Continue to Attract and Convert New Banking and Investment Accounts Checking SavingsWho is Acquiring the Most New Accounts?Chime captures the highest share of checking account openings and is most effective at turning considerations into new accounts. This mirrors results from Q3 2025. Do Those Open Rates Hold True by Affluency? Chime maintains its leadership among the Mass Market, but Bank of America and Chase capture the highest percentage of new accounts among the Affluent and Mass Affluent. SAVINGS ACCOUNTWho is Acquiring the Most New Accounts? Chase outpaces Chime in new savings account openings, but Chime converts the most considerations into new accounts. Do Those Open Rates Hold True by Affluency? Chime leads in savings account openings within the Mass Market, but Chase, Bank of America, Wells Fargo, and Capital One win the most Mass Affluent and Affluent new savings accounts. INVESTMENT ACCOUNTWho is Acquiring the Most New Accounts? Chime captures the highest share of checking account openings and is most effective at turning considerations into new accounts. This mirrors results from Q3 2025.. Do Those Open Rates Hold True by Affluency?Chime leads in savings account openings within the Mass Market, but Chase, Bank of America, Wells Fargo, and Capital One win the most Mass Affluent and Affluent new savings accounts. About JD Power Churn Data AnalyticsJD Power U.S. Financial Services Churn Data & Analytics is a syndicated benchmarking study profiling the actions and experiences of customers opening new financial products/accounts in the U.S. The study includes the following consumer account types: checking, credit card, savings/money market, individual investment, HELOC/HELoan, personal loan, auto loan, and retirement. The key metrics in this study track the opening and closing (“churn”) of customer financial accounts among institutions. Contact our team to get the full results. Make sure you are on the list to get the latest report as soon as it is published.

Chime sees highest new customer acquisition for checking accounts and conversion rates for checking and savings accountsFidelity leads on new investment account openings, SoFi leads on investment account conversion rateBank of America and Chase capture highest percentage of mass affluent and affluent banking customers The “soft switching” phenomenon, whereby banking and investment services customers are opening secondary accounts and quietly making them their primary relationships, continues for a second consecutive quarter in the JD Power Financial Services Churn Data and Analytics report.The report, which tracks customer attrition among the nation’s leading financial services providers, finds that FinTech brands, such as Chime and SoFi have become the biggest beneficiaries of this trend, attracting and converting new account openings faster than more established financial services brands. The trend is particularly noteworthy in the mass market banking segment, while traditional brands continue to lead on new account openings in the mass affluent and affluent banking segments[1]. Chime Leads on New Bank Account Openings and ConversionsJust under half of new checking (49%) and savings (46%) account openings in the fourth quarter of 2025 were for secondary accounts, opened by customers who already have an existing banking relationship, while 26% of checking and 18% of savings account openings were replacement accounts. Brand new banking relationships among customers who did not previously have a banking or checking account represented 25% of all checking and 36% of all savings account openings. This pattern of secondary account opening, which is consistent with Q3 2025, suggests that more banking customers are expanding and diversifying away from their primary deposit relationships. Chime claimed the largest share of new checking account openings in Q4 with 12.8%. It was followed by Chase (8.4%) and Wells Fargo (7.1%). Among new savings account openings, Chase saw the largest overall market share at 9%. It was followed by Chime (8.4%) and Bank of America (6.3%).One area where Chime has continued to show strength for a second consecutive quarter is its conversion rate—the percentage of time the checking account was opened with the bank after customers evaluated other brands. Overall, Chime has the highest conversion rate for customers who considered opening checking (78%) and savings accounts (85%). For both checking and savings accounts, Chime consistently outperformed both FinTechs and more established brands on new account conversion. Bank of America and Chase Win More Affluent Banking CustomersWhen it comes to targeting higher income, and higher net worth, customers, the Big Four national banks are outperforming FinTech brands. Among checking account openings, Chime led on customer acquisition in the mass market segment, claiming 11.5% of new customers, while Chase led in the mass-affluent segment, with 10.9% of new customers, and Bank of America led in the affluent segment, with 14.1% of new customers in Q4. A similar trend played out in savings accounts, where Chime led mass market customer acquisition with 11.5% market share, and Chase led in both the mass affluent (9.7%) and affluent (11.5%) segments. Investment Account Openings, SoFi Converts More CustomersIn the investment account category, Fidelity claimed the largest share of new account openings in Q4 with 16.8%. It was followed by Charles Schwab (9.1%) and Robinhood (8%). When it came to new account conversions, however, FinTech brand SoFi claimed the lead, capturing 83.1% of accounts that were opened after other brands were evaluated. SoFi was followed by Fidelity (80.2%) and Acorns (78.2%) When segmenting customer acquisition by total investible assets, Fidelity maintained the top position among mass market (16.3%), mass affluent (17.7%) and affluent (16.4%) customers. It is followed by Robinhood (10.5%) in the mass market segment and Charles Schwab in the mass affluent (10.8%) and affluent (13.1%) segments. A Mature Market Ripe for DisruptionThe findings in this report are noteworthy because they spotlight a critical transition point in the decision-making process of financial services customers as they evaluate a steadily growing list of brands and options for how to manage their money. We are clearly seeing a trend toward more consumer interest and experimentation with relatively new FinTech brands, particularly in the mass market segment. The fact that many of these brands are succeeding at converting customers suggests that effective digital engagement will play a major role in the future development of the financial services industry. Incumbent brands need to monitor this trend closely and make sure they are continuing to connect with the right customers at the right time with the right approach. Find out MoreThis Financial Services Intelligence Report is based on 263,151 responses collected as part of the JD Power Financial Services Churn Data and Analytics report between October and December 2025. It was authored by Jennifer White, senior director, financial services intelligence at JD Power. Please contact us at the numbers below to connect with the team or to learn more about the underlying research. Media Contacts Brian Jaklitsch; East Coast; 631-584-2200; [email protected] LaMuraglia, JD Power; East Coast; 714-621-6224; [email protected] [1] JD Power defines wealth categories for banking as Mass Market (income