Insights

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.

The stubbornly high cost of consumer goods continues to be a drain on consumers in the United States. The number of consumers in the U.S. classified as financially unhealthy has climbed to its highest level in 12 months, as measured by JD Power.

U.S. consumer financial health fell to a 13-month low heading into the holidays, as inflation and rising utility costs intensify anxiety about affording everyday necessities. Based on November 2025 data from 4,000 consumers, this report explores what the shift means for banks, utilities, and payment providers navigating a more financially stressed customer base.

‘Tis the season for holiday shopping-themed economic indicators. Black Friday, Green Monday, and Cyber Tuesday are quickly approaching, and consumers in the United States are gearing up for their annual rite of retail passage. With that surge in consumer spending comes many insights into overall consumer financial health.

Churn is more than outright defection; it can also include silent attrition, where customers remain nominally active but reduce engagement, spending, or product adoption. High churn rates erode revenue, weaken loyalty, and limit growth potential. In highly competitive industries, such as financial services, insurance, and wireless service providers, churn reflects subtle shifts in customer behavior in shopping for rates, opening secondary accounts or moving business elsewhere. Accessing accurate churn analytics and benchmarking uncovers valuable insights to strengthen loyalty and improve performance. For example, “Insurers use LIST to understand which customer segments are defecting and to which insurers, on a regional basis, to inform targeted retention campaigns focused on retaining and winning back their most valuable customers, said Stephen Crewdson, managing director of insurance business intelligence at JD Power.The same principle applies across industries: organizations that can accurately measure and interpret churn data are better positioned to strengthen loyalty, anticipate market shifts and improve overall performance. How to Calculate Churn: Measuring churn starts with a simple calculation, but interpreting the results requires context. At its core, the customer churn rate shows the percentage of customers who stop doing business with a company over a given period.The Churn Rate Formula is:(Lost Customers / Total Customers at Start) * 100 = Churn Rate Key Considerations When Measuring Churn:Define the time frame: Monthly, quarterly, or annual churn rates based on typical customer lifecycle and usage patterns. Clarify what counts as churn: Determine if it includes silent attrition (reduced spending or dormant accounts) or only full customer loss?Account for acquisitions: Some businesses calculate net churn by factoring in new customers gained.Segment the data: Measuring churn by market, product, or demographic provides deeper insights than one topline figure.Accurately measuring churn rate is the foundation for customer attrition analysis, benchmarking performance against peers, and building strategies to decrease churn over time. How to Track Churn EffectivelyCapture the Entire MarketTrue churn measurement requires visibility into all customer movement across the industry. A market-wide view provides the competitive intelligence needed to benchmark churn against peers, identify where you’re losing ground and to who, and pinpoint opportunities to win customers back.Access Timely DataChurn is dynamic. Tracking in near real time ensures you see shifts in behavior as they happen, not months later, when it’s too late to act.Combine Quantitative & Qualitative InsightsNumbers reveal the “what” (who left, where they went, how many).Customer feedback reveals the “why” (reasons for attrition, perceptions, and loyalty drivers).Together, they provide a more addressable picture of churn dynamics.Tracking Churn across segmentsPinpoint where churn poses the greatest risk, prioritize retention resources accordingly, and develop targeted strategies to protect their most valuable relationships.For example, losing a high customer lifetime value (CLV) customer in insurance has a bigger financial impact than losing a low CLV customer.“Many brands measure their own churn rate but lack benchmarking data, so they don’t know if their rate is competitive or not, or if changes in their rate are due to a changing tide, said Miles Tullo, Managing Director, Financial Services Intelligence. JD Power provides benchmarking data so brands can compare their rates to specific competitors and the market average.” Why Customer Churn and Attrition MatterCustomer churn goes beyond tracking who leaves. It is a direct indicator of revenue risk, competitive pressure, and shifting customer expectations.Using churn data and analysis effectively improves business performance by: Protecting Revenue and Lifetime Value: Tracking customer attrition rate quantifies the direct impact on recurring revenue and CLV. Even small reductions in churn translate into significant financial gains over time.Safeguarding Brand Equity and Market ShareHigh churn rates often signal declining brand perception. By analyzing why customers leave, leaders can address service gaps before they erode market share or damage reputation.Exposing Competitive WeaknessesCustomer churn analysis highlights where product features, pricing, or service models fall short against competitors. These insights help organizations close gaps and win back share.Driving Segment-Level GrowthMeasuring churn by market, demographic, or even down to the zip code reveals patterns that enable precise, data-driven go-to-market (GTM) strategies and targeted retention campaigns.Building Loyalty and Retention ProgramsAccurate churn data forms the foundation for proactive retention strategies, from personalized outreach to loyalty programs, ensuring customers remain engaged and profitable. Getting StartedUnderstanding and addressing churn requires more than internal data alone. JD Power draws on decades of experience, large-scale customer panels, and proven methodologies to provide a comprehensive, near real-time view of customer shopping and switching intent and behavior across the financial services and insurance industry. Become a subscriber to better track and understand how your organization compares to peers and identify patterns that may signal risk or opportunity for company growth.

The number of consumers in the United States classified as financially unhealthy increased to a four-month high in September, causing many to start seeking financial advice from an array of different sources—few of which are true financial professionals.