2023 FSI Benchmark Report

What does financial security look like in 2023?

In the face of rising inflation, job losses, market turbulance and general uncertainty about the global economy, what it means to be “financially secure” has changed. So how should banks and insurers be rethinking their experience? 

Examining consumer survey data and insights from the Quantum Metric platform, we are breaking down the impact of financial uncertainty and addressing what financial institutions need to do to raise their customers’ confidence. 

A sneak peek at what you can expect from our latest benchmarks report:

The good news: There is no doubt that more consumers than ever are managing their money through digital channels with monthly digital traffic seeing an increase year-over-year of 15 percent between 2021 and 2022.

The bad news: Monthly traffic rates for 2022 have somewhat plateaued, while frustration and abandonment is on the rise. Weekly traffic rates increased on average by less than 1%, but average weekly site abandonment rates increased 33% between January and early March.