Banking on Bundles: 48% of 18-34 Year Olds Will Switch Banks for Subscription Bundles That Cut Costs and Admin

Rhea-AI Summary

Bango (LSE:BGOPF) has released a comprehensive study revealing strong consumer demand for bank-branded subscription bundles. The study, surveying over 5,000 U.S. subscribers, found that 29% of consumers would switch banks for better subscription bundling offers, with this figure rising to 48% among 18-34 year-olds.

Key findings show that 68% of subscribers now pay for at least one subscription bundled through third parties like banks. The average consumer manages 5.4 subscriptions, with 63% desiring a single management hub. Notably, 49% of subscribers view their subscriptions as "essential," increasing to 58% among 25-34 year-olds.

Positive

• Strong potential for customer acquisition with 29% of subscribers willing to switch banks for better bundling offers
• High engagement opportunity with 68% of subscribers already using indirect subscription payments
• Significant market opportunity among younger demographics with 48% of 18-34 year-olds willing to switch banks
• Enhanced customer loyalty potential with 57% stating they would be more loyal to providers offering subscription hubs

Negative

• Increasing competition in the banking sector with low switching costs
• Traditional banking incentives like points and cashback losing effectiveness
• Eroding customer stickiness in traditional banking services

New Bango study reveals strong demand for bank-branded bundles and “subscription hubs” that provide streaming media services as part of their benefits

CAMBRIDGE, United Kingdom, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Close to a third (29%) of subscribers said they would leave their current financial provider for better subscription bundling offers. For 18–34-year-olds, that figure jumps to almost half (48%), with nearly one-fifth (17%) of them already taking at least one subscription service bundled through their bank. That’s according to newly released data from Bango.

The Loyalty pays study from Bango surveyed over 5,000 U.S. subscribers (users who pay for an existing subscription service) and found that consumers are looking for more than just financial services from retail banks, neobanks and wallet providers.

Consumers want subscription bundling (multiple subscriptions bundled, such as streaming services on a single bill) and it’s gaining traction as a loyalty lever for banks.

Changing consumer habits

Banks, not Big Tech, are emerging as the gateway to digital subscriptions. 68% of subscribers now pay for at least one subscription “indirectly,” bundled through a third party such as a bank, neobank or wallet. Almost a third (31%) of them say they’re driven by better pricing, but even more (35%) point to easier billing as the draw.

Consumers are also asking for help to manage admin overload: with 5.4 subscriptions on average, 63% want a single hub to manage them all in one place.

More than half (57%) say they’d be more loyal to a provider that offered that hub, and 62% would be more likely to recommend them.

Why this matters for banks

In a competitive market where switching costs are low, and traditional incentives like generic points and cashback no longer create sustained engagement, the customer ‘stickiness’ banks once relied on is eroding.

Subscribers already view their subscriptions as “essential” (49% agree, rising to 58% among 25–34s), and around 70% say they have at least one “forever subscription” they’ll never cancel.

Through subscription bundling, banks tap into that “essential” behavior to deepen weekly engagement, differentiate paid tiers and grow fee income.

Bank-led bundling

Commenting on the new study, Paul Larbey, CEO at Bango, said, “Acquiring new customers is just the first challenge. With competitors only one click away, the question for banks is what keeps those customers coming back.

“Subscription bundling creates a monthly touch point with consumers, prompting them to come to the app or website to look at the latest offers. ‘Digitally engaged’ users are significantly more likely to purchase additional products, whether that’s financial health tools, loans and mortgages.

“This means that bundling is more than just a powerful acquisition and retention tool. It also has a knock-on effect that impacts all areas of the business by driving engagement and waking up dormant accounts.”

Read the full Bango Loyalty pays report here.

About Bango
Bango enables content providers to reach more paying customers through global partnerships. Bango revolutionized the monetization of digital content and services, by opening-up online payments to mobile phone users worldwide. Today, the Digital Vending Machine® is driving the rapid growth of the subscription economy, powering choice and control for subscribers.
The world's largest content providers, including Amazon, Google and Microsoft trust Bango technology to reach subscribers everywhere.
Bango, where people subscribe. For more information, visit www.bango.com

Media contact
For US enquiries, contact SamsonPR: bango@samsonpr.com
For all other enquiries, contact Giles Tongue, VP Marketing at Bango: giles@bango.com

FAQ

What percentage of consumers would switch banks for better subscription bundles according to Bango's study?

According to the study, 29% of all subscribers would switch banks for better subscription bundling offers, with this percentage increasing to 48% among 18-34 year-olds.

How many subscriptions does the average consumer manage according to Bango's research?

The study reveals that consumers manage an average of 5.4 subscriptions, with 63% of consumers wanting a single hub to manage all their subscriptions in one place.

What percentage of subscribers currently use indirect subscription payments through banks?

68% of subscribers now pay for at least one subscription 'indirectly,' bundled through a third party such as a bank, neobank or wallet.

What drives consumers to choose bundled subscriptions through banks?

31% of consumers are driven by better pricing, while 35% cite easier billing as the main attraction for choosing bundled subscriptions through banks.

What percentage of consumers view their subscriptions as essential according to the Bango study?

49% of subscribers view their subscriptions as essential, with this figure rising to 58% among 25-34 year-olds. Additionally, about 70% report having at least one 'forever subscription' they'll never cancel.