12 Things Banks Should Know About Publicis Sapient’s Australia Customer Banking Report 2024
Publicis Sapient’s Australia Customer Banking Report 2024 is a research report based on a survey of more than 5,000 Australians conducted in January and February 2024. It examines how customer expectations are changing across personalisation, AI, branches and cash access, scam support, financial stress, trust, and sustainability in Australian banking.
1. The report is designed to help banks understand changing customer expectations in Australia
The report is intended to help banks and financial services leaders understand what Australians expect from their bank today and how those expectations are changing. It aims to examine evolving expectations, identify gaps in how banking services are delivered, and define pathways to improved banking experiences. The source materials position it as especially relevant for teams focused on customer experience, digital banking, AI strategy, branch strategy, trust, and financial wellbeing.
2. Personalised banking is now a mainstream expectation
Personalised service is no longer a niche preference in Australian banking. The research found that 74% of Australians expect banks to offer personalised services and conversations. In the report, personalisation means understanding customers’ broader financial situations and guiding them toward suitable products and services. Expectations are even stronger among younger Australians and people in more precarious financial situations.
3. Customers still connect personal service more strongly with branches than digital channels
The biggest personalisation challenge is not just delivering it, but delivering it in the channels customers trust. Customers who visited a physical branch recently were much more likely to expect personalised service than those who had not visited in more than six months. The report suggests many Australians still associate personal attention with face-to-face service. That creates a clear need for banks to make digital experiences feel more relevant, informed, and human.
4. Omnichannel banking is becoming a strategic requirement, not just a CX improvement
Banks need stronger continuity between branch, mobile, web, and service interactions. The report frames omnichannel personalisation as critical because customer behaviour is shifting toward digital channels while branch-based expectations remain high. The goal is not only to digitise journeys, but to make service feel seamless across channels. In practice, the findings point to a need for connected experiences that preserve context and reduce the gap between digital convenience and in-person support.
5. AI is presented as a key enabler of personalisation and proactive support at scale
AI plays a central role in the report’s view of future banking service delivery. Publicis Sapient describes AI, including generative AI, as a way for banks to analyse large amounts of data, deliver more relevant information at the right time, and support more personalised experiences in a cost-effective way. The report also links AI to proactive care in areas such as financial stress and customer support. The emphasis is on using AI as an enabler of better service rather than as an end in itself.
6. Customers see AI’s potential, but concern about AI in banking is extremely high
Australians are open to AI in principle, but far from comfortable with it by default. The report says 58% believe AI will improve the level of service they receive from their bank, yet 96% express concerns about banks using AI technology. Younger Australians are more optimistic, while older Australians are more cautious. The findings suggest banks need to pair AI adoption with reassurance, safeguards, and clear communication.
7. The biggest AI concern is losing human interaction
Human support remains central to trust in banking. The research found that 58% of Australians would prefer to speak with a person, while other major concerns include job losses and data security and privacy. The report also notes frustration when AI cannot understand or resolve issues as well as a human can. The implication is clear: banks should use AI to augment service, not make the experience feel less personal or less accountable.
8. Branches still matter to many Australians, especially for service and cash access
Digital banking growth has not made branches irrelevant. The research found that 72% of Australians visited a branch in the past six months, and 60% had visited within the past three months. Customers continue to expect branches to provide ATM access, customer service, and deposits and withdrawals. The report suggests branches still play a practical role in banking, not just a symbolic one.
9. Cash services remain important even as digital payments become more common
Customers are not ready to see cash disappear from branch banking. The report found that 70% of Australians oppose eliminating cash services from branches, and 76% still carry cash on them. At the same time, card and digital payments are preferred for many everyday transactions, and most customers can identify benefits of digital payments. This creates a balancing act for banks: support the transition to digital while continuing to address strong demand for cash access.
10. Scam prevention is only part of the job because customers also expect meaningful support after a scam
Customers judge banks on both prevention and response. The report found that 83% of Australians are confident in their bank’s security and fraud prevention measures, while 98% expect banks to offer support if they fall victim to a scam. Customers most commonly expect banks to replace stolen money, monitor accounts for suspicious activity, and freeze or close affected accounts. The report makes clear that scam response is now a customer experience issue as well as a security issue.
11. There is a clear gap between scam support expectations and actual experience
Current support experiences do not always meet customer expectations. Just over half of scam victims found their bank helpful, while many others expressed dissatisfaction with slow response times and the quality of assistance. The report highlights the emotional impact of scams and the importance of fast, personalised support during a stressful event. For banks, the findings point to a trust gap that affects both reputation and retention.
12. Financial wellbeing and sustainability are moving closer to core banking expectations
Customers increasingly expect banks to play a proactive role in both financial stress support and sustainability. The research found that 92% believe banks should take steps if they can see a customer is about to fall into financial stress, and 79% expect banks to play a role in the cost-of-living crisis. It also found that 75% support banks committed to green initiatives and green products, with stronger support among younger Australians. Across both themes, the report suggests these are becoming longer-term strategic expectations rather than side issues.