Why Bigger Budgets Are Failing Bank Brands

Snapshot:
Despite record-high marketing budgets, banks and credit unions are losing visibility with consumers. Brand awareness has steadily dropped from 34% to 31% over the past year, according to new research from Rivel Banking.

The culprit? Ad fatigue, particularly among Gen Z and Gen X, is driven by overexposure, lack of relevance, and one-size-fits-all messaging. While food and beverage brands remain top-of-mind for 30% of consumers, only 8% recall seeing a recent financial services ad. Millennials see the most ads, but younger and middle-aged generations are the most fatigued — and willing to pay to skip ads entirely.

Most financial ads appear on social media, streaming TV, and email — channels that risk oversaturation and creative sameness. Even when banks have customer data, many fail to use it effectively: only 65% of Gen Z respondents feel their bank markets in ways that reflect their needs. To reverse the trend, marketers must localize messaging and lean into authentic community presence.

Campaigns with real customer stories, humor, or cultural connection are outperforming traditional hard-sell tactics, offering a path forward in the fractured attention economy.

Full story: THE FINANCIAL BRAND