Nearly half of Gen Z would switch financial providers for free subscriptions
New Bango research reveals an opportunity for banks to turn subscription perks into lasting loyalty
CAMBRIDGE, United Kingdom, Sept. 15, 2026 (GLOBE NEWSWIRE) -- Nearly half of Gen Z Americans (48%) would switch financial providers for free access to their favorite subscriptions, according to new research from Bango (AIM: BGO).
The US findings, drawn from a survey of 2,500 consumers conducted for Bango’s new Banking on loyalty report, also show that 47% of Gen Z would be more loyal to a bank or financial provider that helped them save money on subscriptions.
However, banks have barely begun to meet that demand. Among Americans who receive subscriptions indirectly, only 9% get one through their bank. By contrast, 35% get subscriptions through a cell phone provider, 34% through a retailer, and 25% through a TV, satellite, or cable provider.
That gap is particularly visible among younger consumers. Almost half of Gen Z (48%) expect streaming services to be included as a bank perk, compared with 43% of Millennials and 28% of Americans overall.
The opportunity also extends across the wider market. Nearly one in three US consumers (31%) would switch financial providers for free access to their favorite subscriptions.
Bango believes this gap represents a loyalty and revenue opportunity for banks. By giving customers a single place to find, manage, and upgrade subscriptions through their bank account, app, or wallet, financial providers can use a one-time benefit to build longer-term loyalty and engagement, while encouraging customers to upgrade to premium banking services.
Commenting on the findings, Paul Larbey, Bango CEO, said: “Consumers already get subscriptions through cell phone providers, retailers, and other companies they use every day. Banks are not being asked to create a new consumer behavior. They are playing catch-up with one that is already established elsewhere.
“For Gen Z, subscription benefits are already influencing how they choose and judge their financial providers. A voucher or cash-back offer may get attention, but it often sends the customer elsewhere once redeemed. The bank pays for the benefit while another provider owns the ongoing relationship.
“Banks already sit close to customers and their money. Those that make subscriptions easier to access, manage, and upgrade can turn a one-time perk into repeating loyalty - something customers use month after month, making their accounts more useful and building stronger engagement and recurring revenue. But that role will not be theirs by default. If banks do not build the relationship, someone else will.”
Read the full Banking on loyalty reporthere.
Methodology
This report includes data from 4,000 consumers in the US and UK, exploring attitudes to subscriptions, bundling and the role of banks and financial providers in the subscription economy.
The research includes 2,500 consumers in the US and 1,500 consumers in the UK. It is a new analysis of data from the 2026 Subscription Signals research, commissioned by Bango and conducted by the independent research company 3Gem in 2026. The report also references the 2025 Subscriptions Assemble research.
About Bango
Bango enables content providers to reach more paying customers through global partnerships. Bango revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscription economy, powering choice and control for subscribers.
The world 's largest content providers, including Amazon, Google and Microsoft, trust Bango technology to reach subscribers everywhere.
Bango, where people subscribe. For more information, visit www.bango.com
Media contact
Keaiana O’Riordan
keaianao@wildfirepr.com
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