One in four bank customers has recently considered changing their main bank, a survey showed.

Fintech outlet Fintech Futures reported on Sept. 28 that a survey conducted by Celent with Temenos found many customers were not strongly dissatisfied with their current bank but could move if offered better terms, a better digital experience and personalised rewards.

The survey described this customer segment as the “switchable middle”. Their dissatisfaction is not high enough to leave immediately, but their loyalty is not strong either. Some 56 percent of retail banks said acquiring and retaining customers has become harder over the past year.

Customer expectations have also changed. The survey said it is no longer only some digitally friendly customers, as most customers know the level of service AI can provide and expect it. Some 58 percent of respondents wanted product-related advice, and 51 percent said banks should better understand their needs at the time of an inquiry. Some 40 percent said loyal customers should be rewarded with better interest rates.

Banks, meanwhile, are struggling with personalisation because of fragmented data and systems. While 50 percent cited AI and process and workflow as technology investment priorities, investment in personalisation was only 4 percent. The share that prioritised products or customer experience was 25 percent. Mandatory changes were cited as a key constraint by 48 percent, current technology by 46 percent and IT budget constraints by 44 percent.

Generative AI has further lifted customers’ expectations for digital services. Some 68 percent said they would be willing to use a conversational interface for bank inquiries. Concerns over trust in AI remained. Privacy and data security were the biggest concern at 47 percent, followed by errors or inaccurate decisions at 36 percent.

Customers were especially cautious about automated decisions. Will Moroney (윌 모로니), Temenos' chief revenue officer, said customers are open to AI that explains, guides and recommends, but are more cautious in areas that move funds or make decisions on their behalf. He also said a route for human involvement should remain in areas where trust is critical, such as advice, lending, fraud and complex cases.

Payment services were cited as a key factor increasing the likelihood of switching. In Europe, 39 percent of those aged 50 to 64 said they could change banks for better payment services, and in the Middle East and Africa, 34 percent of those aged 30 to 39 gave the same response. Moroney said banks need to improve basics such as speed, stability, fraud prevention and rapid resolution when problems occur.

The report said banks need to modernise their core banking foundations, rather than merely adding customer-facing functions, to differentiate themselves with AI. It said they need a structure that can continuously adapt to new products, digital channels, regulatory requirements, AI-based workflows, external connections and shifting customer expectations. The survey was conducted from June to August 2026 among 2,515 bank customers worldwide and 216 global banking leaders.