The data: Chase led all bank brands in new checking and savings account openings in Q2 2026, capturing 11.2% and 10.5% of each market, respectively, per J.D. Power’s July 2026 Financial Services Intelligence Report. It helped national brands put an end to two consecutive quarters of fintech challengers gaining share.

Zooming in: Besides checking and savings accounts, several other categories shifted toward national brands in the quarter.

• In new credit card account openings, Capital One (16.8%), Chase (12.4%), and Bank of America (6.3%) posted quarterly gains, with rewards and prior brand experience as the most-cited reasons for selecting them.
• Wells Fargo led personal loan openings with 10.7% of the market, ahead of Upstart (9.9%) and SoFi (8.5%). Convenience was the top selection factor.

But fintechs didn’t entirely lose their edge. SoFi and Chime converted 73% and 72% of checking inquiries into new accounts, respectively, and Chime converted 81% of savings account inquiries—well above national bank rates. Chime also won more openings among mass market customers than any institution (12.8% of checking accounts and 10.9% of savings accounts).

Implications for banks: National banks’ Q2 resurgence suggests that trust and brand recognition matter most at the consideration stage, before consumers even apply. While fintechs still convert prospects into customers more efficiently, banks are attracting more prospective customers in the first place by capitalizing on scale, reputation, and familiarity. Strengthening those trust signals can help banks compete from the moment a consumer starts comparing options.

Whether that advantage lasts remains to be seen, as the pattern may be cyclical: Fintechs and neobanks captured 47% of new checking accounts in 2023, per a Cornerstone Advisors report, before banks clawed back share with more competitive offers.

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