Competitor IQ’s State of U.S. Retail Banking report draws on mystery shopping and survey data across physical and digital channels to surface actionable insights for financial institutions.
MARLBOROUGH, Mass., March 11, 2026 /PRNewswire/ — Competitor IQ (CIQ) today announced the release of its State of U.S. Retail Banking study, a comprehensive examination of how consumers experience retail banking across in‑branch, digital, and advisory channels in an evolving financial landscape.
The report is free to download from www.ciqdata.com.
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35% Use website/app less than |
27% Clients introduced to other |
26% No recent advisor contact |
The study reveals that while U.S. retail banks continue to perform strongly in core service delivery—particularly through in‑person interactions—gaps remain in digital adoption, proactive engagement, and communication around innovation.
Based on a combination of banking mystery shops and consumer surveys, the research confirms the enduring value of face‑to‑face banking. In‑branch experiences consistently foster trust and confidence, reinforcing the importance of human interaction in financial decision‑making. At the same time, digital channel usage remains uneven, especially among older consumers, with a meaningful segment using online and mobile banking infrequently.
The study also highlights missed opportunities to deepen client relationships. Only 27% of consumers reported being proactively introduced to additional products or services during branch visits, suggesting room for more relevant, needs‑based conversations. Advisory outreach shows similar inconsistencies, which may impact long‑term loyalty as client expectations continue to rise.
Overall, the findings point to a retail banking sector that is strong at its foundation but facing increasing pressure to balance operational excellence with personalization, convenience, and transparency
The State of U.S. Retail Banking study provides actionable insights and strategic guidance to help financial institutions strengthen client relationships, enhance digital experiences, and remain competitive as consumer expectations continue to evolve.
Research Methodology
The study was conducted over an eight‑month period from January through August 2025 using a dual‑method approach combining mystery shopping and consumer surveys. A total of 1,840 responses were collected and analyzed to capture both qualitative and quantitative perspectives on the U.S. retail banking experience.
About Competitor IQ – A Division of DALBAR Inc.
Competitor IQ – A Division of DALBAR Inc. is the premier provider of exclusively‑sourced competitor shopping data, enabling financial institutions and major retailers to avoid expensive problems and exploit market gaps. Through proprietary methodology, quality‑controlled real‑time data, and a team of specialized experts, Competitor IQ delivers tailored insights and actionable intelligence at scale—helping organizations understand where they stand in their market, make confident decisions, and consistently outperform their competitors.
MEDIA CONTACT:
Steve Worthy
compete@ciqdata.com
www.ciqdata.com
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SOURCE DALBAR, Inc.
