January 27, 2026
Impacts of customer and user experience on the choice of banking institutions
Angelica Mayumi Yamada Iglesias; Pablo Henrique Paschoal Capucho
Summary prepared by the ResumeAI tool, an artificial intelligence solution developed by the Pecege Institute focused on synthesis and writing.
This research identifies the impacts of customer experience (CX) and user experience (UX) on the choice and loyalty of banking institutions by Brazilian consumers. The study analyzes how CX and UX influence the decision to keep or abandon a bank, traditional or digital, in a scenario of intense digitalization. The objective is to map the critical factors of value and satisfaction, comparing business models to outline customer acquisition and retention strategies, considering the holistic interaction of the consumer with the brand, from human service to the usability of digital platforms.
The Brazilian banking sector underwent a profound transformation, influenced by the actions of the State and society (Metzner and Matias, 2015). Deregulation, technological advancement, and new management strategies were decisive for the evolution of the business model, compelling traditional banks such as Itaú and Banco do Brasil to adapt to maintain their relevance.
The emergence of digital banks such as Nubank and C6 Bank represented a turning point, focusing on market niches neglected by conventional institutions. The target audience consisted of customers dissatisfied with the traditional model, who criticized the bureaucracy and low quality of services (Marques, 2019). The rapid adoption of this model highlighted Brazil on the global stage: the number of digital bank customers grew by 73% between 2018 and 2020, and 44% of Brazilian banking customers had an account in an exclusively digital institution by 2020 (N26, 2021).
This disruption forced conventional banks to reposition themselves in a market that demands more modern and efficient services (Moura et al., 2023). The main current distinction lies in the service model: digital banks are remote, while traditional ones offer a hybrid model. In this environment, customer experience (CX) has become a strategic differentiator. CX encompasses the entirety of a customer’s perceptions throughout their interactions with a company, influencing loyalty (Richardson, 2010; Finio et al., 2024). The consumer journey, touchpoints, and product ecosystems are crucial for shaping this perception.
In the banking sector, CX ranges from account opening to transactions and support, being essential points of contact (Finio et al., 2024). In a market with homogeneous products, the quality of interaction and the usability of platforms are critical differentiators. User experience (UX), focused on interaction with digital applications and their visual and functional aspects, is a vital component of CX in the digital context (Finio et al., 2024).
The research adopted a mixed-methods approach, integrating quantitative and qualitative data for a robust understanding of the phenomenon (Creswell, 2010). The study is exploratory, by deepening the elements of CX and UX, and descriptive, by analyzing consumer preference factors based on the collected data (Gil, 2008; Lakatos and Marconi, 2003).
Data collection occurred in two stages. The first was a structured questionnaire via Google Forms, with closed and open questions, applied to bank clients in general. The form presented the concepts of CX and UX and collected demographic data and perceptions about the use of applications and customer service, ensuring anonymity. The second stage consisted of semi-structured interviews with a diverse sample, including two retired bank employees, one retired merchant, an expansion coordinator, and a UX/UI Design professional, to deepen motivations and expectations regarding CX and UX.
The data analysis was integrated. Quantitative data from the questionnaire were statistically analyzed to identify patterns and correlations. Open-ended responses and interview transcripts were subjected to thematic content analysis to identify recurring themes. The combination of methods allowed us to understand not only “what” consumers prefer, but also “why” they make their choices.
The research obtained 54 anonymous responses to the questionnaire, enriched by five interviews. The demographic profile of the questionnaire respondents is concentrated: 81.48% reside in São Paulo, 62.96% are between 25 and 30 years old, 62.96% are female, and the majority have high education levels (51.85% with complete higher education and 33.33% with postgraduate studies or higher). Although this is a limitation for generalization, it offers a portrait of an economically active and digitized segment. Nubank is the institution with the most clients in the sample (40 respondents, 74%), followed by Itaú (30 clients, 55.55%) and Banco do Brasil (26 clients, 48.15%), signaling the coexistence of both models.
The prevalence of “multi-banked” behavior was a relevant finding: 31.48% of respondents have accounts in two banks and 25.93% in three. The average number of institutions per user aligns with the Brazilian market average of 2.3 (Rodrigues, 2021). Although Nubank leads in customer numbers, Itaú was identified as the most used on a daily basis, mainly due to the convenience of salary reception, an indicator of a “primary bank” (Bapat, 2015). Nubank, second in daily use, was praised for its practicality and intuitive interface. Banco do Brasil and Santander were associated with security and long-term relationships.
Regarding support channels, digital channels predominate, with chat (37.04%) and in-app help section (27.78%) being the preferred ones. However, traditional channels such as telephone (22.22%) and physical branches (12.96%) maintain their relevance, suggesting the need for an omnichannel strategy. The preference for bank type resulted in a technical tie: 40.74% prefer digital banks, 40.74% use both complementarily, and 18.52% exclusively prefer traditional ones. The reasons for choosing digital banks were practicality, absence of queues, and reduced fees (Marques, 2019), while the preference for traditional ones is anchored in the perception of security, reliability, and human service.
The use of banking applications is massive, confirming their role as the main point of contact. Febravam’s research (2025) indicated that 75% of banking transactions in Brazil occur through applications. In the sample, 62.96% use the application daily and 37.04% a few times a week. The most common operations are transactional: payments (32.21%), transfers (27.52%), and balance checks (21.48%), indicating frequent use, but focused on basic functionalities. Regarding the abandonment of institutions, 48.15% have never left a bank due to dissatisfaction. For those who did, the quality of service was the main trigger (20.37%), surpassing isolated dissatisfaction with the application (12.96%). Combined dissatisfaction with service and application was responsible for 18.52% of cases. Customer satisfaction theory (Kotler and Keller, 2013) explains that failures in support and usability lead to broken expectations.
When asked which bank offers a good customer experience (CX), respondents indicated Nubank (29.07%) in first place, followed by Itaú (20.93%) and Banco do Brasil (13.95%), showing the perception of quality and trust that traditional banks project. However, when evaluating user experience (UX), Nubank leads with 36.26% of indications, more than double the second-place finisher, Itaú (16.48%). This result highlights Nubank’s competitive advantage in building an intuitive and functional digital interface, consolidating it as a benchmark in UX in the sector.
The analysis of the degree of importance attributed to CX and UX factors revealed a clear hierarchy. The most critical factor, with over 80% of participants assigning maximum importance, was “speed in problem resolution and support.” In second place, “trust and security of the institution.” With over 60% relevance, are “clarity and transparency about products/services” and “application transaction speed.” In contrast, “variety of products/services” and “customer page personalization” were considered the least relevant, with less than 20% maximum importance. This suggests that consumers value efficiency, reliability, and simplicity over an excess of functionalities.
The interviews deepened the findings. Interviewees A and B, with careers in traditional banks, reinforced the view of a more competitive market and maintain a strong bond of trust with Banco do Brasil. Interviewee C, a retired merchant, exemplified the hybrid customer: she uses Banco do Brasil for daily operations, valuing human contact, but prefers Nubank for her credit card due to the app’s ease of use. Interviewee D, a UX/UI professional, stated that Nubank’s superior UX can compensate for less competitive fees, as the intuitive interface conveys security, highlighting the low tolerance for errors in financial products. Interviewee E, an expansion coordinator, personifies the multibanking strategy, using Nubank for daily activities, Itaú to accumulate points, and Inter for investments, reinforcing Nubank’s leadership in UX. The results indicate that choice and loyalty are determined by the synergy between CX and UX, with digital banks setting a new standard for usability and traditional banks being valued for security and human support.
The data analysis allows us to conclude that CX and UX are interdependent and crucial factors in choice and loyalty in the Brazilian banking sector. The study showed that, while digital banks like Nubank have established a new paradigm of digital usability (UX), traditional ones like Itaú and Banco do Brasil maintain relevance due to the perception of security and human support (CX). There is no superiority of one model, but a complementarity, with customers adopting a multi-banking strategy. Agility in problem-solving, trust in the institution, and usability of applications emerged as the most valued attributes. An important finding was users’ low tolerance for errors in financial applications, which affects the perception of security. The study’s limitations include the geographical and age concentration of the sample, suggesting the need for future research with a broader sample. It is concluded that the objective was achieved: it was demonstrated that excellence in the modern banking customer journey requires a harmonious integration between a fluid digital user experience and a customer experience that conveys trust and offers effective support, with the combination of these elements being the main competitive advantage in the current market.
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Executive summary from the Final Project of Specialization in Digital Business from the MBA USP/Esalq
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