young bank waiting advice

Banks: what do young people want?

Faced with neo-banks, young customers are hard to win for traditional banks. Attractive prices, ease of use…. 50% of customers opened an account via a neo-bank for financial reasons (1). On the “young” side, are these reasons sufficient? Traditional banks may still have a card to play.

Young people’s expectations for banking

Young people expect mainly from a bank to accompany them and advise them. For example, according to a survey conducted by Vaultia, 62% of under-30s and customers in a traditional bank felt that their bank did not accompany them sufficiently (2). Thus, this trend is also observed for neo-banks but is down compared to 2019.

They also expect skills but also strength of proposal from their bank advisor. In their view, this is an essential criterion for their satisfaction with the service. Thus, in 2020, 67% of young people find that the banker of their neo-bank is competent (2). Thus, banking agencies, whatever they may be, have a strong interest in strengthening their support in order to meet the expectations of young people.

online banks young tips
Young people consulting their online bank via their smartphone.

In addition, young people are increasingly using banking apps to access their accounts. Thus, they expect a bank to allow easy and direct access. Indeed, online consultation accounts for 40% of young people for traditional banks and 46% for neo-banks (2). This is an advantage for both types of banks, as digitalisation helps to address the problem of immediate availability for young people.

Dematerialization of services, digital technology in the burgeoning

More and more banks are being dematerialized. Physical banking agencies are thus replaced by a 100% digitalised service. Indeed, they offer their services only via an application or a website. As a result, they attract more and more users each year. In fact, 75% of 18-30 year old customers of traditional banks consider themselves attracted to these digital services by 2020. This is due in particular to attractive costs and a simplicity of implementation. This saving of time and money is thus not negligible, especially for students. The lack of innovation of traditional banks is also at the root of these questions and desires for change.

Digitalisation thus takes a considerable place in the activities and creates strong competition from traditional establishments and services. Nevertheless, digitalization must rhyme with accompaniment. Indeed, digital should not be a hindrance but a lever of personalization and advice, especially thanks to the simplification of access and contact.


  1. Panorama of neobanks in France: who are their customers?, KPMG, 2019 study
  2. Neo-banks VS traditional banks: What do 18-30 year olds think? What changes in usage between 2019 and 2020?, Vaultia, release of 20 October 2020
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