Generational Divide in Digital Banking: Comparing Experience and Expectation across Generations X, Y, and Z

Abstract

Digital banking has become a crucial component of
today's financial environment with its ease of use and
accessibility. How Generation X, Generation Y, and Generation
Z have embraced and changed digital banking is distinct. The
demands, tastes, and experiences of these generational groups
with digital banking services differ. This study aims to examine
digital banking experience and expectations of customers
among generations X, Y, and Z in the Malabar region of Kerala,
which has a rich and diverse cultural heritage. A comprehensive
interview was conducted with digital banking customers,
representing a comparable proportion of each generation. The
result of the Tukey HSD Post Hoc test indicates that the
experience and expectations of Generation X, Y, and Z differ
about digital banking. Digital banking is seen as complex by
Generation X, but it is preferred for quick transactions by
Generation Y, and more personalised care is desired by
Generation Z. This study provides banks with a thorough
strategic foundation for adapting to changing customer
expectations across generations.