The news: Nearly 9 in 10 US middle-income consumers want digital-first banking with access to in-person support for complex needs, per a Q2 2026 Santander survey.

Zooming in: Traditional trust signals still resonate with this demographic:

• 90% of respondents prefer speaking with a knowledgeable person over AI for major financial decisions.
• 86% would have more confidence in a digital banking provider if it were backed by a financially stable bank.
• 83% said the same for a digital banking provider that also had physical branches.

Why it matters: Middle-income consumers are a core customer base for many retail banks. Their preference for human guidance suggests branches and advisors remain important differentiators, even as digital banking becomes the default for everyday transactions.

AI’s growing presence only makes that expertise more valuable. By automating routine interactions, banks can focus advisors on more complex interactions where trust, personalization, and guidance matter most—giving traditional institutions an advantage over digital-only competitors focused largely on convenience.

Implications for banks: As digital banking features become easier to replicate, trusted financial advice will become a more durable differentiator. That raises the value of investing not only in AI, but also in tools that make advisors more effective, informed, and accessible when customers need them most.

But branches and human experts alone won't win younger consumers, whose preferences diverge from average middle-income consumers. They’re increasingly turning to neobanks for everyday banking, meaning incumbents must deliver both the seamless digital experiences Gen Zers expect and the human expertise that will become more valuable as their financial needs grow more sophisticated.

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