Consumer Attitudes Towards AI in Banking: Insights from a TD Bank Survey
Cherry Hill, NJ – June 17, 2025 – A recent survey conducted by TD Bank, which included 2,500 Americans, highlights a noteworthy trend: 89% of respondents feel comfortable using and adapting to new technologies in their daily routines. Furthermore, about 68% of participants reported being at least somewhat familiar with artificial intelligence (AI) and its various applications in everyday life. This growing familiarity extends to trust—with half (50%) of respondents believing AI can provide reliable and accurate information.
The TD Bank survey reveals that many Americans trust AI for information as much as they do news stations (50%) and significantly more than social media influencers (25%). However, traditional sources remain paramount, as 90% of respondents place their trust in friends and family, while 83% trust financial institutions for specific figures.
“The survey results show increased optimism and curiosity regarding AI’s role in aiding smarter financial decisions,” stated TED Paris, EVP and analysis manager at TD AMCB Bank. “Over half of Americans believe AI can offer personalized financial advice, underscoring the need for financial institutions to bolster education and demonstrate how AI can positively impact daily decision-making.”
Growing Confidence in AI’s Role in Banking
Consumers exhibit particular confidence in AI for behind-the-scenes banking operations. The majority are comfortable with AI applications for fraud detection (70%) and credit cost calculations (64%). However, when it comes to critical decisions, only 44% express comfort using self-service tools for investment management, while 43% indicate they would consider using AI alongside a human advisor for financial planning.
In terms of managing personal finances, respondents show the highest comfort levels with AI tools for budgeting (60%) and automating savings (59%). This comfort diminishes for more complex tasks, such as retirement planning (48%) and investment (44%). A striking 51% acknowledge that AI could enhance financial decision-making, indicating a promising trend as familiarity grows. Notably, 48% believe AI can alleviate awkward discussions with bank representatives, enhancing self-service potential.
Advantages and Concerns Surrounding AI in Banking
With the rise of AI in the banking sector, many Americans anticipate benefits such as 24/7 banking access (48%), improved transaction efficiency (40%), and reduced costs (32%). A substantial 65% believe AI has the potential to broaden access to financial services, particularly for underserved communities. “AI is recognized as a powerful catalyst for increasing access to financial resources,” Paris added.
Despite acknowledging AI’s potential, consumers still harbor concerns, particularly regarding data security and privacy violations (65%), loss of human interaction (56%), and lack of transparency in AI decisions (49%). This serves as a call for banks to emphasize human oversight in the integration of AI technologies.
A Future of Transparency and Collaboration in Financial Services
While skepticism persists, with 22% of Americans seeing no real benefits from AI in financial services and 50% doubting its capacity to deliver impartial advice, many individuals still seek clarity and education on AI’s role. “AI serves as a catalyst for information and solutions in the realm of financial access and decision-making,” comments Paris. “The integration of AI into banking is recognized for its potential to deliver enhanced financial tools.”
Conclusion and Methodology
The TD Bank and Ipsos survey was conducted from March 17 to 31, 2025, reflecting a balanced demographic of 2,500 American adults. The sampling accuracy was measured within a confidence interval of ± 2.2 percentage points. Survey results underline the evolving landscape of consumer attitudes towards AI and its role in finance.
About TD Bank and Ipsos
TD Bank, known as The Most Convenient Bank in America®, ranks among the top 10 largest banks in the U.S., providing a comprehensive array of financial services. Ipsos is a global market research firm present in 90 markets, utilizing over 18,000 dedicated professionals to deliver insights into consumer behavior.
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