2027 Financial Services Research: What Consumers Want From Their Banks

A bank can offer a polished app, helpful staff and a long list of products. That still leaves an important research question: which parts of that experience actually help people manage their money?

As financial services brands plan for 2027, I would start there. Asking consumers what they want from a bank can produce a very long wish list. Understanding what they need during a specific financial situation gives the research a much clearer purpose.

The goal is to learn where a bank fits into someone's life, where it creates friction and what deserves attention next.

What I find interesting about banking research is how quickly the conversation changes when you ask about a specific experience. Someone can like their bank overall and still have a very clear story about something that frustrated them.

Start with the financial task

Someone receiving their first regular paycheck may have different needs from someone helping a parent manage household finances. Even the same person can want speed for one task and a detailed conversation for another.

Rather than beginning with a general satisfaction score, ask about recent activities. Did they move money, dispute a charge, apply for credit or try to understand a fee? What were they trying to accomplish? What happened along the way?

Our consumer market research starts with defining the people and experiences relevant to the decision. That matters when a broad category such as banking contains so many different situations.

Separate convenience from confidence

An activity can be quick without leaving someone confident that they completed it correctly. A transfer might take seconds, while the customer remains unsure when the recipient will receive the money.

For a 2027 study, I would measure those experiences separately. Was the task easy? Was the explanation clear? Did the person know what would happen next? Could they get help when they needed it?

Those distinctions give teams more useful direction than a single question about whether customers like digital banking. They also leave room for customers to describe an experience that worked well.

Explore what happens after a problem

I would make service recovery a specific part of a banking study. Think about someone who reported an unexplained fee or a payment problem. Did they understand who was handling it? Did they receive an update? Was the explanation useful even if the outcome disappointed them?

Ask about one recent incident and follow its sequence. That helps distinguish the original problem from the experience of getting it resolved.

The finding could inform how a bank communicates ownership and progress. Keep it within scope: a customer's recollection of support is evidence about their reported experience, not an independent audit of the transaction or the bank's controls.

Understand the relationship beyond one transaction

Banking research can also explore how a relationship develops across repeated interactions. Ask which activities people rely on their main bank for and where they prefer another source of help.

Someone may use digital channels for routine tasks but want continuity when discussing an unfamiliar financial decision. Another person may place more value on clear written information they can revisit.

Compare those needs using relevant circumstances, such as responsibility for household finances or recent contact with support. The aim is to understand what people expect from an ongoing banking relationship. Our consumer market research can help define the experiences that belong in that investigation.

Give the findings a job

Before approving the questionnaire, decide what the answers could change. A service team might need clearer explanations for a process. A product team may need to examine an unmet need. Communications teams could use the evidence to discuss a broader consumer challenge.

Imagine a study finds that customers complete a task easily but struggle to understand the next step. That hypothetical result points toward a different response from a finding that people cannot complete the task at all.

If the findings will support a public banking campaign, our PR survey research can help turn a focused consumer question into clearly documented evidence for media outreach.

Useful 2027 banking research should help your team make those distinctions. If you are planning a study, tell us which customer experience you want to understand. We can help turn it into questions people can answer and findings your team can use.

About the author

Andrew Edwards is the founder and CEO of CITE Research. His background includes survey research at Nielsen and public relations at Edelman. He helps organisations use original research for business decisions, PR, marketing and thought leadership.