Image by Arvitalya | iStock illustration

Banks and credit unions spent the last decade retooling branches and marketing to play up their skills in dispensing financial advice.

But as consumers increasingly turn to artificial intelligence to answer everyday questions, that bet is facing a challenge.

“It’s a cliche in the banking world to say, ‘We offer white-glove service’ or ‘We have the best personalized service,’” said Andrew Catalano, managing partner at marketing agency Austin Williams. “But that’s not persuasive enough anymore.”

A majority of customers (53 percent) reported having turned to artificial intelligence tools for financial advice in the past three months, according to a recent survey by consultancy JD Power.

In addition, 40 percent of consumers said they sought help from AI software such as ChatGPT to manage personal finances, and 27 percent found it somewhat or significantly helpful. Satisfaction was highest among consumers under age 40, according to JD Power’s 2026 U.S. Financial Health Support and Advice Study. Consumers are also just as likely to credit AI as their bank or credit card issuer for helping them make smarter financial decisions when money is tight according to the company.

Consumers are using artificial intelligence to try and discover how they can save money or increase their income, and as an aid to create a budget, according to JD Power.

That’s a problem for banks, said Jim Miller, a vice president at JD Power and head of its banking and credit consulting unit. While consumers previously searched the web, placed phone calls or visited a branch, a single prompt in a large language model can now identify the most beneficial account for their needs and deliver that information faster than ever.

“They have to show to their customers that they still have a role in providing that advice and guidance, because I think that’s good for the outcome for the bank,” Miller said. “How do they maintain that role?”

AI Changing What Customers Want

Armed with more information, customers are entering branches with a clearer idea of what they want. Instead of seeking help figuring out which product they need, they are looking for the bank that offers the specific product they want at the best price.

“For banks, it’s about being more sophisticated in their content, being more educational, meeting people where they are,” said Matthew Hummel, chief strategy officer at New Hampshire-based marketing firm Silvertech. “I think you’re seeing a heavy emphasis on personalization in web experiences, where we’re trying to identify what your intent is and get more relevant content pushed to you, so that you’re having a good experience.”

Chase has put a particular focus on providing educational content to the communities where it operates. The bank has hosted financial literacy workshops at its branch in Mattapan, open to both customers and non-account holders, since the location opened in 2021.

Chase said it uses these events to provide resources and build relationships.

“We don’t want to leave it as a conversation. We want to make sure people get tools and resources,” Chase Community Manager Angelica Civilus said. “The more we tell them the value of having someone they trust by their side, the more opportunities they have to actually rely on that banker. Part of my workshops, one of the things we always talk about is, ‘Hey, you can trust us. We’re working by your side.’”

Bank and credit union marketing leans heavily on their human employees’ expertise. But experts say that won’t resonate with many consumers today. Image by Arvitalya | iStock illustration

Banks are also highlighting personalization in their promotional messaging.

“We have a wealth management client [where] their go-to-market message right now is ‘We’re your personal CFO,’” said Hummel, whose company specializes in working with banks, among other companies. “So, they’re trying to make it like ‘We’re here to play this role for you. We’re here to be your advisor.’”

This messaging can be impactful, Hummel noted. AI software is well known for “hallucinating” and many consumers remain skeptical of the information they receive from it, he added, but the knowledge that bank employees possess can be trusted by consumers.

And while AI provides users with unprecedented amounts of information, consumers must still digest it and determine their next steps. AI is a starting point in the customer journey, not the final answer, according to Catalano, of Austin Williams.

Financial knowledge and guidance can still be where banks can display their value, he said.

Should Banks Change How They Talk?

Younger consumers are less likely to encounter traditional advertising, much less visit a branch. So if banks’ marketing efforts are still going to lead with advice, they must distribute content in more engaging ways, experts said.

“The banks need to find smart ways to deliver that advice,” JD Power’s Miller said. “The banks need to be more proactive in providing advice. It’s hard to get through to somebody in Gen Z who isn’t checking their email, and it’s becoming a harder audience to reach. I think the banks need to be personalized and take advantage of the opportunities that present themselves.”

But banking is a business. Every institution needs to bring in money, whether that’s deposits to fund loans or fee and interest income from the products it offers.

And while banks must drive revenue, consumers do not want products forced on them; they want advice to feel genuine.

“They want advice that is relevant and personalized,” Miller said. “They want an explanation of why they’re given that advice, and they don’t want the advice to seem like a marketing pitch. If the advice is always ‘Open another account with us,’ that’s not going to go over well. However, if they are offering advice and consumers are willing to give them other insights or information about their financial relationships, perhaps they can offer better products and services. It has to be done genuinely.”

While AI is sometimes viewed as a threat to local banks, institutions can use it to get their name in front of customers. Austin Williams conducts AI visibility reports for clients to analyze how a bank ranks within LLMs and how to improve its positioning.

“The strongest marketing doesn’t position AI and human expertise as competitors,” said Jennifer Forgét, Austin Williams’ senior vice president of client engagement. “It shows how technology makes banking easier while people provide the insight that turns information into confident decisions.”

SilverTech’s Hummel said he has not seen negative pushback toward AI. Instead, his clients are navigating how best to use a tool that consumers have rapidly adopted.

“How do we do this responsibly?” Hummel said. “How do we do this in the best interest of our customers, in the best interest of our business, in the best interest of our brand?”