The news: Traditional banks still hold most of Gen Zers’ primary relationships—for now. According to The Financial Brand, that’s because these institutions:

• Offer a hybrid experience Gen Z still values, combining seamless digital tools with human guidance for complex financial decisions.
• Provide trusted, in-person support through branches, which Gen Zers increasingly use for advice, reassurance, and relationship-building (not just transactions).
• Serve as stable bases in a fragmented financial ecosystem, even as Gen Zers experiment with fintech apps and digital wallets.
• Present opportunities to deepen relationships through advisory moments, where delivered guidance strongly influences product adoption and engagement.

The clear trend: EMARKETER’s "US Banking Consumer Habits" survey reinforces this finding, highlighting a clear incumbency advantage: Bank of America and Chase are Gen Z’s top financial providers, each holding double-digit leads over digital-only banks, neobanks, credit unions, and fintechs.

Implications for financial providers: According to a November 2025 YouGov poll, 78% of Gen Zers have just one bank account, while only 18% have two. At the same time, 66% prioritize mobile-first simplicity, even as 35% still visit branches to meet their financial needs—reinforcing the importance of a hybrid banking model.

Financial institutions competing to become Gen Z’s primary banking provider must deliver seamless mobile experiences alongside accessible human support. Traditional banks are well-positioned, given their existing branch networks and strong app performance. But competitors can still gain digital ground by prioritizing the in-demand mobile features highlighted in EMARKETER’s “US Mobile Banking Emerging Features Benchmark.”