Fintech brands ranked among the top three choices for new US checking, savings and investment account openings in the first quarter of 2026, according to JD Power data, as Chime, SoFi, Cash App and Robinhood gained ground in markets long dominated by banks and brokerages.
The figures come as JD Power’s latest direct banking study found online-only banks outperforming neobanks on customer satisfaction, highlighting a divide within the digital banking market even as both compete for customers moving money away from traditional providers.
Digital brands win new openings
JD Power’s Financial Services Churn Data and Analytics report, based on more than 200,000 responses collected between January and March 2026, found that Chime, Chase and Wells Fargo had the highest share of new checking account openings in the first quarter.
Large banks continued to feature prominently, but the highest conversion rates belonged to fintech brands. Chime and Current each converted 76 per cent of prospective checking account customers, followed by SoFi at 72 per cent and Cash App at 65 per cent.
The pattern was similar in savings. Chase led new savings account openings with an 8.4 per cent market share, followed by Chime at 7.1 per cent and Bank of America at 6.1 per cent. But Chime converted 82 per cent of savings leads into customers, while Cash App converted 76 per cent.
Chime leads among mass-market customers
Chime’s strongest gains came among mass-market banking customers, where it accounted for 14.2 per cent of new checking account openings, ahead of Wells Fargo at 8.1 per cent.
Chase retained a stronger position among higher-income customers, leading new checking account openings among mass affluent customers with a 10.6 per cent share and affluent customers with 14.4 per cent.
The same income divide appeared in savings. Chime led mass-market savings openings with a 9.4 per cent share, but fell to 3.3 per cent among mass affluent customers and did not rank in the top 10 among affluent customers.
SoFi was the only fintech to appear across all three income segments for savings account openings.
Online banks widen the satisfaction gap
JD Power’s 2026 US Direct Banking Satisfaction Study measured customer satisfaction with online-only bank and neobank checking and high-yield savings or money market products.
“Online-only banking providers are really succeeding at establishing emotional connections with their customers by delivering highly personalized digital interactions, along with products and services that help them feel understood and that they are moving toward their financial goals,” said Paul McAdam, senior director of financial services intelligence at JD Power.
But the study found a gap between federally chartered online banks and neobanks. Online bank checking accounts recorded an overall satisfaction score of 674 on a 1,000-point scale, 52 points higher than neobanks. Online bank high-yield savings accounts scored 689, 32 points above neobanks.
“Within the online-only banking marketplace, however, JD Power finds that many neobanks are not performing as well as online banks when it comes to basic blocking and tackling in areas like the convenience of reaching customer service and single-contact problem resolution,” McAdam said.
DIY investors favour fintech platforms
Fintech gains also extended into investment accounts, particularly among do-it-yourself investors.
Robinhood was used by 13.5 per cent of DIY investors, while SoFi was used by 7.8 per cent. Among advised investors, Robinhood’s share fell to 2.8 per cent, and SoFi did not rank among the top 10 most used brands.
Robinhood ranked second for investment account openings among households with less than $250,000 in investible assets, with a 9.2 per cent share. Its share fell to 4.7 per cent among households with $1 million or more, and 4 per cent among those with $250,000 to less than $1 million.
Credit cards remain more incumbent-led
Credit cards showed a more traditional ranking. Capital One led new credit card openings with a 15.9 per cent share, followed by Chase at 11.4 per cent and Credit One Bank at 7.2 per cent.
Chime’s presence was concentrated among customers with lower credit scores. The company ranked third for new credit card openings among people with credit scores between 400 and 659, with a 5.9 per cent share, but did not appear in the top 10 among customers with scores of 660 or higher.
Retirement accounts remained the category least affected by fintech competition. Fidelity led new account openings in the first quarter with an 18.2 per cent share, followed by Bank of America/Merrill at 5.3 per cent and Empower at 4.5 per cent.
Incumbents retain scale
JD Power said the largest national and multinational financial institutions still account for the majority of total assets and continue to invest in customer relationships across digital and branch channels.
Its data, however, shows fintech brands gaining share in selected areas of new customer acquisition, particularly among younger and less affluent customers. The firm said attrition rates in key segments “should be cause for concern” for incumbent brands losing market share to fintechs.
JD Power has previously described part of this pattern as ‘soft switching’, where customers add fintech accounts for specific needs rather than fully leaving their existing provider. In the first-quarter data, that behaviour appears most visible in checking, savings and DIY investing, while traditional providers remain more prominent in affluent banking, credit cards and retirement accounts.