Digital-first, high-street loyal: Gen Z’s unique banking preferences

By Gloria Methri

Despite the cost-of-living crisis, Gen Z is rewriting the financial playbook with a blend of optimism, action, and a surprising affection for high-street banking, according to Dentsu’s latest Consumer Navigator Report.

The findings reveal that nearly half of Gen Z (45%) in the UK plan to open a regular savings account in the next three months—outpacing Millennials (29%), Gen X (16%), and Boomers (14%) by a wide margin. Even as 80% of Brits perceive the economy to be in poor condition, Gen Z stands out for its forward-thinking and financially resilient mindset.

This generation is also increasingly investment-savvy. Over a third are eyeing diverse assets such as stocks and shares (38%), cryptocurrency (33%), and ISA contributions (32%) in the immediate term—signalling a proactive approach to building long-term financial security.

While nearly half of UK adults say they are struggling to cover basic expenses, Gen Z bucks the trend with confidence in their financial future. Over 36% expect their finances to improve within the next month, compared to just 13% of Gen X and 7% of Boomers. This hopeful outlook is reflected in their spending behaviour, with Gen Z twice as likely (24%) as the general population (12%) to have increased their spending over the past year.

The Digital Natives Who Still Value the High Street

Interestingly, Gen Z’s financial behaviours go beyond just clicks and taps. Though raised on smartphones, almost one-third (32%) of Gen Z plan to bank in-branch in 2025—more than any other generation. This preference coexists with their digital habits, with 52% still choosing to interact with financial services through mobile apps and 49% via websites.

The message is clear: Gen Z demands omnichannel engagement. Banks and financial institutions that want to connect with this cohort must deliver seamless digital experiences alongside meaningful in-person service.

What Drives Gen Z’s Financial Decisions?

Gen Z approaches money with both logic and values. Their top decision drivers include:

• Value for money (34%): A cornerstone of their pragmatic mindset.
• Customer experience (32%): The highest among all generations, underlining expectations for intuitive and personalised service.
• Loyalty rewards (27%): Reflecting a preference for tangible, long-term benefits.
• Sustainability (25%): Showcasing their commitment to ethical financial choices.

Fiona Hart, Integrated Financial Services Client Lead at dentsu, sums it up by saying, “Gen Z is rewriting the rulebook for financial engagement. Brands that win their trust will be those that combine digital-first strategies with authentic, human-centric experiences.”

The insights are actionable for financial services providers: To resonate with Gen Z, offerings must be transparent, ethical, sustainable, and available both online and on the high street.