BBL Research - Is There a Need for Digital Account Opening?

Digital was already an established growth area when COVID-19 arrived in early 2020. More consumers use digital for more of their banking than they perhaps would have done otherwise. Gen Z has the highest preference of all of the generations for opening deposits via a mobile app or desktop. 70% have opened an account online in those younger generations at some point in their life versus only 24% of boomers.