Gen Z willingness to change primary bank in the UK 2019-2023, by quarter
Willingness to change primary banks among Gen Z bank account holders in the United Kingdom (UK) doubled between 2019 and 2023. According to Statista's Consumer Insights, the share of bank account holders who were were willing to change their primary bank on the next possible occasion was 30 percent in the fourth quarter of 2023, 15 percentage points higher than in the first half of 2019. The most significant increase took place in 2020, signalling that the spread of neobanks during the COVID-19 pandemic decreased consumer loyalty among the respondents.