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State of banking 2024 research report

Wipfli Insights Team
Dec 29, 2023
2024 State of banking industry research report

Wipfli’s 2024 banking outlook reveals new M&A, cybersecurity and AI trends

Wipfli’s annual research report into the state of banking reveals a slowdown in aggressive growth, a reluctance to embrace AI and a surprising number of cybersecurity instances.

Nearly 400 banks across the United States participated in Wipfli’s “State of banking” research report. Among the key findings:

  • 56% of banks expect growth of only 1%-5%
  • 78% of banks plan to buy, down from 90%
  • 43% cite both cybersecurity and employee issues as a top concern
  • 61% cite digital customer engagement as a top strategy
  • 65% of banks report at least one identified instance of unauthorized access to data or networks
  • 51% say risk is a top barrier to using AI
  • 56% of banks have no strategy to serve unbanked or underbanked populations

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