In particular, younger generations are at the forefront of increased P2P payment usage and interest in advanced technologies.
A survey of 2,000 US adults with established banking relationships conducted early February 2025 showed that 67% of respondents have utilized P2P services like splitting bills or sharing expenses. This represents a considerable increase from the 40% reported in 2020.
Digital banking apps remain widely used, with 78% of participants accessing mobile banking at least weekly and 62% deeming them essential for their financial routines.
Millennials are at the forefront of this digital shift
Three-quarters of millennials in the survey reported using P2P services, showing a 21-percentage point increase since 2020. Additionally, 79% utilize tools to monitor their credit scores, and many expressed interest in integrating technologies such as AI, virtual reality, and other digital enhancements into their banking experience.
Regarding potential future applications, 49% of millennials and 45% of Gen Z participants said they would be open to using AI-based financial assistants. Interest in other technologies, including virtual and augmented reality, robotics, and neural interfaces, was also high among younger respondents.
Overall, 39% of all survey participants indicated a willingness to consider AI for financial management in the coming years. Across generations, 85% expressed a preference for managing their banking activities through a single app.
Chase representatives noted that its mobile app usage has grown steadily over the past five years, with more than 80 million users currently accessing the platform. The institution reported an average annual user growth of approximately 8% to 10% during this period.