A new study has shown that different generations have varying priorities when it comes to online banking. According to a report by banking consultant Alkami, Gen Z (ages 20 to 30) values banks that can educate them and help them set financial goals. In contrast, boomers (ages 61 to 65) focus more on security, such as protection against fraud and hacking. Across all generations, convenience in online banking is a common expectation, similar to what users experience with other digital services. For example, 57% of Gen Z individuals expect their bank to be their main source of financial education, while 92% of boomers consider fraud protection essential. Meanwhile, 65% of millennials (ages 31 to 46) prefer banking experiences enhanced by artificial intelligence, and 91% of Gen X (ages 47 to 60) prioritize a more personal online banking relationship, valuing phone support. These differing priorities reflect the unique financial situations of each generation. Gen Z, who are just starting their financial lives, have the lowest average net worth among adult generations, at around $162,744. They are learning about personal finance and setting long-term goals, such as saving and investing a portion of their income each month. On the other hand, boomers have the highest average net worth, exceeding $1.8 million. Many are retired and focused on ensuring their savings last, making security a top concern as they no longer have the time to grow their investments. In response to the growing reliance on digital banking, financial institutions have worked to improve their apps and websites. According to a 2026 study by J.D. Power, overall satisfaction with digital banking remains high. This is largely due to the core digital experience, which includes fast and seamless login processes, modern design, and easy navigation in mobile banking apps. The study also identified which banks are leading in online banking. Among nine national institutions, Capital One was ranked the top online bank, followed by Wells Fargo and Truist. American Express received the highest score for the best mobile app experience, with Wells Fargo and Chase following closely. The Alkami study emphasized that providing a smooth online banking experience is crucial for financial institutions, as nearly half of Americans would consider switching banks for a better digital experience. In fact, 31% of respondents said they had already opened accounts at other institutions due to poor digital experiences. "Financial institutions must understand how their customers' needs are evolving," Alkami noted.