Temenos and Celent released research showing that 75% of US banking customers are only moderately satisfied or less with their primary financial institution, creating a 'switchable middle' that banks must fight to retain. The report, 'The Banking Expectation Gap: US Consumer Edition,' found that 62% of US banks say winning and retaining customers has become harder over the past year, with dissatisfaction highest in payments, security, and value. Key switch drivers include better rates and fees (51%), personalized rewards (42%), and improved digital features (39%). Celent's Michael Bernard noted that banks combining modern digital experiences with personalization and human support will win share, while Temenos' Brian DuVal emphasized that legacy technology limits innovation. The research also showed 67% of consumers would use AI-powered conversational interfaces, but 48% worry about privacy, and 46% of banks cite legacy platforms as a barrier to innovation, with 22% prioritizing core transformation by 2026/27.
Temenos Group AGReport highlights banks' need to modernize core systems, benefiting Temenos' software sales
NVIDIA CorporationResearch co-authored by Celent showcases its expertise, potentially driving consulting demand
