What do consumers under 40 think about AI-powered banking?

As banks' most important demographic, under 40s — and their attitudes, preferences, and expectations — have been the topics of countless studies.

But while our own research supports the most commonly touted findings about younger consumers, that they want highly-personalized, digital-first experiences, the picture is much more nuanced when you throw AI into the mix.

In November 2025, we interviewed 4,000 German consumers aged 18 to 65 about their attitudes to AI and AI-powered banking. Here's what under 40s told us, and how their attitudes compare to those of the older cohorts who took part in our study.

Under 40s are the biggest AI adopters… but also the most ambivalent about AI

Out of all respondents, under 40s are the heaviest AI users.

39.7% of respondents aged 18 to 29 and 38.1% of those aged 30 to 39 use AI at least once a week. Younger respondents are the most likely to use AI on a daily basis: 40.3% of respondents aged 18 to 29 do so, compared to just 12.4% of over 50s.

Under 40s are also the strongest advocates for the benefits of AI. 61.4% of 18 to 29 year-olds and 51.2% of over 30s think AI saves time, while 34.5% and 30.1% respectively think it helps them understand their finances better.

So far, so unsurprising. But the picture becomes more nuanced once you look at our respondents' objections to AI in banking.

Specifically, under 40s — and, particularly, 18 to 29 year-olds — are the least likely out of any age group to say that AI use in banking has no downsides.

Under 40s are also more worried about potential data leaks and the amount of personal data AI tools collect, probably because, having grown up with the internet from an early age, they're more aware of and attuned to these risks.

Most significantly, however, younger consumers, and, particularly, 18 to 29 year olds are very worried that widespread AI adoption will make it more difficult to speak to a human.

At 42.7%, the percentage of 18 to 29 year-old respondents who are concerned about losing access to humans is second only to that of respondents over 50.

The high-tech, high-touch paradox

At first glance, it might seem counter-intuitive that the strongest AI adopters would put so much importance on being able to speak to a human when needed. But, if we dig beneath the surface, this finding makes perfect sense.

In an academic paper published in the International Journal of Management Research and Emerging Sciences, Akanksha Kumari, Associate, Global Loan Services and Cash Settlements at Morgan Stanley, observes that consumers become more likely to want to speak to a human as product complexity and financial stakes increase.

"Customers have complex wants and needs," Akanksha writes, "and human judgment is required for solving complex problems, specifically those related to human feelings and emotions since they cannot be entirely ignored."

Put more bluntly, it's one thing to pay rent or send your share of the restaurant bill to a friend. But investing your life savings or getting a mortgage is completely different: a major financial and emotional milestone.

It follows, then, that consumers would want reassurance from an experienced human professional when they're about to take such a big step.

When it comes to under 40s specifically, they're usually much earlier in their financial journeys than older cohorts, and are taking big decisions for the first time while juggling higher levels of debt and smaller savings buffers. From this perspective, the desire for human advice is even more consistent, not contradictory.

Keeping control of the customer experience

Under 40s' ambivalence towards AI is reflected in their answers to our question on what financial tasks they'd prefer the technology to be at least partially involved in.

Our overall results put monitoring suspicious transactions at the top of the list, picked by 44.6% of respondents. But, when you break down the answers by age group, under 40s are the least keen on this AI banking use case, suggesting they don't completely trust its effectiveness when it comes to detecting and preventing fraud.

By contrast, the most popular AI banking use case among under 40s is customer support. Taken with our finding that younger consumers are the most worried about losing access to humans, this is a strong reminder of the importance of giving consumers a choice.

Just because they might show a particular inclination — in this case, comfort with speaking to chatbots — it doesn't follow that they want other options to be taken away from them.

More predictably, under 40s are the most comfortable with automated saving and AI-powered transaction sorting and expense analysis, and the most open to AI's potential when it comes to personalized financial advice.

But, here again, these findings come with the important caveat that younger consumers value human interaction as much — and, in some cases, more — than their older counterparts.

Under 40s say yes to AI… but not if it limits their options

Imagine you're staying at a hotel.

When you arrive, you're greeted by a uniformed doorman who gives you a warm welcome, opens the door for you, and perhaps, even helps you with your luggage.

To an objective observer, that doorman might come across as an inefficiency: why pay a human to open doors, when an automatic sliding door does the job?

But, in reality, the doorman is doing much more than opening the door. By making a fuss of you, he's making you feel important. Which means your stay will be more memorable and you'll be more likely to book again.

Our research suggests under 40s view AI in banking in much the same way. They see the value in it. They understand the benefits. But they also have a healthy dose of skepticism.

More to the point, they're clear that automation shouldn't come at the expense of human touchpoints. At the end of the day, what keeps them loyal is not the technology itself, but how much control they feel they have over the experience.