A new survey has found that US millennial banking customers prefer those banks which provide better online services with a very few interested in visiting the banks in person.

Conducted by artificial intelligence (AI) chatbots developer Humley, the survey included 1,000 Americans who were asked about their online banking experience and preferences.

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The study found that 40% of the respondents have switched their banks due to poor online service, while 77% of the millennials stated that they would change their bank to receive better services.

Additionally, 31% of the people surveyed said that they would switch to a bank with lesser duration of call waits.

About two-third of the respondents said they avail banking services through smartphone application, while about one third said they use an online web browser.

The survey also found that after the consumers develop positive online banking experiences, they tend to remain loyal to their current lender.

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The respondents also provided positive feedback about the AI-powered chatbots currently being deployed by multiple banks. About 44% of them said they can interact with a chatbot than a real person, provided these AI solutions can offer reliable guidance and support.

Humley chief product officer Ed Smith said: “In an increasingly digital world, financial institutions are putting a lot of thought behind how to improve the online customer experience and adopting the right kind of chatbot can make quite the difference.

“AI-powered chatbots with natural language capabilities that put subject matter experts in control will save banks valuable time and resources while improving customer satisfaction across generations.”