Generations in banking: How differently we move money

Banking used to be something you did at your local branch. Today, we make transfers with a tap of our finger, compare interest rates online, and check our finances on the go. But how do different generations actually approach digital banking?
Our latest YouGov study, commissioned by Gini, shows that although there are decades between Gen Z and Boomers, there are often fewer differences in banking than you might think.

Digital accounts across generations

This year’s study clearly shows that banking today is digital across all generations.
At 34.7%, baby boomers (born between 1946 and 1964) make up the largest group among respondents, followed by millennials (26.9%) and Gen X (24.6%). Gen Z accounts for 11.6%.
The fact that the majority are older than 45 reflects the demographic change in Germany. At the same time, the population, including the older age groups, is becoming increasingly digital. Digitalization is therefore no longer a generational project, but part of everyday life.

Online or app? Generations and their banking behavior

Every year, we ask respondents how they use banking services. This year, over 75% of respondents said they use online banking via a web browser, while 71.9% regularly use a mobile banking app.
But a look at the age groups reveals some interesting differences:

• Gen Z: Almost 9 out of 10 use mobile banking regularly – a clear “app-first” approach.
• Millennials: Also heavily digitally active, but somewhat more security-conscious.
• Boomers & post-war generation: Surprisingly active, over 80% use online or mobile banking, often even both.

Only traditional branch banking is noticeably losing importance. More than 90% of Gen Z rarely or never go to a bank branch. This shows that modern banking services now reach all age groups.

Security in banking

Perceptions of security in digital banking vary greatly. While millennials consider mobile banking to be the most secure (67.2%), boomers and older users see this as the greatest risk. They tend to trust online banking in a browser, which is considered the safest option by 61%. Telebanking, on the other hand, fails across all generations – almost a quarter consider it unsafe.
This shows that security is a matter of trust – and trust grows with transparency, clear user guidance, and understandable processes. In other words, when technology feels simple, it is perceived as secure.

Satisfaction: Older people are the digital champions

A surprising result: over 90% of respondents are (very or fairly) satisfied with their banking app. But boomers and the post-war generation are the happiest, with a satisfaction rate of around 95%. Millennials, on the other hand, are more critical: 11% are dissatisfied or fairly dissatisfied. A clear trend: the older, the happier. This is probably due to the stability and reliability of many apps, which are particularly important for older target groups. Convenience, clarity, and straightforward processes count for more here than flashy features.

Photo payment – a feature that connects generations

A particular highlight of the study is photo payment. Almost half of those surveyed (46.6%) are familiar with it; among millennials, the figure is over 60%. And those who are familiar with it use it: two-thirds use it regularly. No wonder – 87% of users are very or somewhat satisfied with it. Photo payment plays a key role, especially for older generations: it makes transfers more intuitive, faster, and less barrier-free. Instead of laboriously typing in IBANs, all you need is a photo of the invoice or transfer form. This feature not only provides convenience, but also contributes to digital inclusion.

Conclusion: Digital banking is not a question of age

The results make it clear: digital banking services have long been part of everyday life across all generations. Younger users drive innovation, while older users bring trust and continuity. And in between, a market is emerging in which user-friendliness, security, and accessibility make all the difference. Features such as photo payments show that technology can become not only smarter, but also more human, because it connects people regardless of age, experience, or device.

Find out how banking behavior is developing in Germany, which banks are particularly popular, and what users really care about in our complete YouGov Study 2025.