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A new study from J.D. Power has found that direct banks outperform traditional ones in customer satisfaction and mobile experience, but they may be losing their luster — creating potential opportunities for branch-based credit unions and other financial institutions.

The survey of 2,709 customers found that overall satisfaction score for direct banks, which operate solely online and don’t have branches, was 57 points higher on a 1,000-point scale than for traditional branch-based retail banks. But the survey also found that the gap in satisfaction with the mobile experience is narrowing between direct and traditional banks, and less than half (43%) of the people who use direct banks consider them their primary banks.

Tina Orem

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