Since 2022, as part of our Banking on Banks series, we have been surveying consumers across Europe about managing their finances, and the role of financial providers in helping them do so. This year, for the first time, we move beyond Europe to include the USA to understand the picture on a more global level.

Throughout the series we have provided financial institutions with a clear image of consumer perceptions, particularly as they were consumed by the cost of living crisis, wrestling with spiralling inflation and rising prices.

Banking on Banks 2024: Credit and Debt

'Banking on Banks 2024: Credit and Debt' explores how 7,000 consumers across Italy, Germany, France, the UK, Austria, and the USA are managing their finances, and the role of financial providers in helping them do so. 

One key theme we saw across all our research is the shifting views, preferences and demands across generations. Specifically, how older and younger groups differ when it comes to who’s responsible for ensuring that people don’t get into debt, how comfortable they are in sharing their data, how important the environment is in decision-making, and their preference for digital experiences over in-person experiences.

Despite economic pressures on consumers easing slightly, the cost of living crisis still hasn’t subsided completely.

More than a fifth (22%) worldwide think their financial situation will worsen in the next 12 months, altering the way in which people approach their finances. This means that the need for financial products and services which can help them manage their financial concerns – such as credit – remains high.

This reliance on credit is indicative of the fact that half in Europe (50%) and over half in the USA (55%) believe that it is harder to get by without relying on credit or borrowing than it was 12 months ago. However, in Europe and in the USA, many are being turned away from accessing credit-based financial products and services - like credit cards - despite relying on them.

Some onus clearly needs to be put on the individual when it comes to over indebtedness, but banks and lenders can play an important role in educating their customers and promoting responsible lending.


Half of consumers worldwide would be willing to share data if it meant that there was a better chance of accessing financial products at a cheaper rate (52%), if it helped with improving their credit score (49%) or if it helped with being offered more relevant products and services (48%).

Banking on Banks Credit and Debt 2024 chart

Download it now to gain actionable insights on how consumers manage their finances, and what they expect from their banks and insurers. 

Previous Editions

Banking on banks 2023

Banking on Banks 2023

Read more
Banking On Banks CRIF

Banking on Banks 2022

Read more