Alkami report shows digital banking gaps at US banks
Fri, 8th May 2026 (Today)
Alkami has published its 2026 Digital Banking Performance Metrics Report with Cornerstone Advisors, adding business banking benchmarks to its retail banking measures.
The research points to a divide between digital adoption and digital performance at US banks and credit unions. Digital banking is now the main channel for many retail customers, and business banking usage is also rising, but several high-friction processes still limit results.
Among retail customers, 87% of checking accounts were associated with active digital banking users in 2025, up from 85% previously. Mobile banking activation rates reached 82%, compared with 73% in 2024, while digital consumer loan applications accounted for 51% of total loan applications, the first time the share has crossed the halfway mark.
These figures suggest financial institutions have succeeded in moving more customers onto digital channels. Institutions averaged 1.56 new products per digital banking user, indicating that customers who use digital services tend to have broader relationships with their bank or credit union.
Yet the data also showed persistent weaknesses. For every online checking account opened, 3.36 applications were abandoned, highlighting the difficulty many institutions still face in converting digital account-opening tools into completed sales.
Usage patterns are also shifting in some retail products. Changes in the use of person-to-person payments and personal financial management tools point to stronger competition from third-party providers.
Business gaps
The study expands into business banking for the first time and shows a market where digital use is established but product availability remains uneven. On average, 78% of business accounts were active in digital banking, and 75% were actively using mobile banking apps.
However, only 17% of financial institutions offered digital account opening for businesses. Even among those providers, just under a quarter of business accounts were opened online.
The same pattern appeared in business lending. Only 20% of institutions offered online business loan origination, though those that did reported that 37% of business loan dollar volume was originated online.
Businesses using treasury services were active users, but many institutions still lacked the digital features that growing companies increasingly expect. Those missing features included real-time payments, integrated payables and receivables, and cash flow forecasting.
Measuring outcomes
The findings also raise questions about how banks and credit unions track the success of digital investments. Cornerstone Advisors argued that many institutions still collect activity data without clearly linking it to commercial outcomes such as account growth, lending volume or deeper customer relationships.
"Financial institutions need a digital banking metrics framework that does three things: focuses measurement on outcomes, not just activity; connects digital performance data to business goals; and distinguishes between metrics worth tracking and metrics worth managing to," said Ron Shevlin, Chief Research Officer at Cornerstone Advisors.
"There's no limit to what a financial institution could measure," Shevlin said.
The results suggest that the next stage of digital banking competition may depend less on basic access and more on execution. Many institutions appear to have established core mobile and online banking channels, but fewer have reduced onboarding friction, expanded business services, or built a clear picture of how digital behaviour translates into revenue and retention.
That matters for both retail and business customers. In retail banking, high abandonment rates can undermine acquisition efforts even when account opening is available online. In business banking, weak digital account opening and limited loan origination options risk leaving banks and credit unions exposed as business customers look for faster, more integrated services.
Alkami said the benchmarks are intended to help institutions compare their performance with wider market trends. The report is positioned as a tool for banks and credit unions to assess whether growth in digital usage is producing stronger relationships with account holders.
"Digital banking has become a primary driver of engagement and growth for financial institutions, and having clear performance benchmarks is critical to making informed decisions," said Marla Pieton, Vice President of Brand, Public Relations and Influencer Marketing at Alkami.
"This report helps banks and credit unions better understand where they stand today, and where they can continue to evolve their digital strategies to meet the needs of both consumers and businesses," Pieton said.