Stand first
· G7 leaders discussed global challenges, but what do everyday customers want from banks?
· Customers desire stronger data protection, easier services, personal guidance, and shared values.
· What should banks learn from G7 discussions to meet real financial needs?
As the G7 summit marked its 50th anniversary in Canada this year, world leaders gathered to address major issues, from artificial intelligence (AI) to energy transition and financial stability. But while policymakers debated the global agenda, consumers everywhere were left wondering: what does this mean for me and my money? From how the data is used to how money moves across border, decisions made in high-level forums ultimately shape everyday experiences. Banks, as frontline interfaces of economic engagement, must align with evolving expectations.Digital trust is more than security
Today’s consumers are digitally aware and increasingly protective of their personal data. Ongoing reports of information leaks and AI misuse have made data privacy a top concern. Consumers expect clear, jargon-free explanations of how their information collected, used and stored, along with the ability to control or opt out of data-sharing features.
At the G7 summit, European Commission president Ursula von der Leyen called for a “Digital Pact for Trust,” a commitment to responsible AI and data governance. This sets the tone for banks too.
Banks must not only secure their systems but demonstrate transparency and ethical handling of data. Building digital trust should be central to service design, not just a compliance exercise.Personalized and proactive financial guidance
Many customers feel their banks are more interested in selling products than supporting their goals. What they really seek is proactive, personalised guidance and tools to help them save, budget and plan with confidence. Whether its reminders for upcoming bills, insights to avoid fees or tailored savings strategies, smart financial coaching is in high demand.IMF’s managing director Kristalina Georgieva echoed this at the G7: “Financial inclusion must evolve from access to empowerment.” Banks should move beyond basic access and become true financial partners, especially as consumers face rising costs and economic uncertainty.
Seamless and accessible services Banking should be simple, yet for many, it remains frustrating, with hard-to-navigate apps, long wait times and costly international fees. Customers want seamless access across channels: apps, branches or calls. They also expect transparent exchange rates, low fees and reliable cross-border transactions This was also reflected in the G7 finance ministers’ push for faster, cheaper, and more accessible global payments — mirroring the needs of customers who increasingly live, work, and send money across borders.
What customers want What banks should do
1. Safe and private data Be clear about how data is used. Let customers control sharing.
2. Simple privacy info No legal jargon, explain privacy in plain language.
3. Smart, personal money tips Act like a financial coach, not just a seller.
4. Help before there’s a problem Send alerts for bills, savings tips, and fraud warnings.
5. Easy-to-use apps and services Make banking smooth across apps, branches, and calls.
6. Low-cost global money transfers Offer fair rates, fast transfers, and no hidden fees.
7. Honest use of AI Use AI for good — like helping, not exploiting.
8. Shared values (like sustainability) Support green, ethical, and fair financial practices.
While G7 leaders debate the future of finance, the real transformation begins with listening. In 2025, consumers want more than convenience, they want banks that earn their trust, reflect their values and stand with them.
Explore how your bank measures up at BankQuality, and join a global community shaping the future of fair and customer-focused banking.