Consumers across the US use a combination of both digital and traditional channels to manage their finances, with use of mobile banking among millennials nearly three times more than other generations, according to a survey by Fiserv.

The study, titled Expectations & Experiences, revealed that online banking websites accessed through a computer remain the most frequent way among consumers to access their primary financial organisations.

Millennials were found to be more inclined towards mobile banking channel. Accessing financial organisations through mobile app or browser was 8.5 times on average for this customers segment compared to only 3.1 times for older counterparts.

Overall, the study found consumers to be less content with their financial health versus other areas of life, with only 36% rating their satisfaction as an eight or more on a scale of zero to 10.

Millennials were found to be less satisfied compared to older generations both with their financial health and primary financial organisation, even though they remain the most engaged segment in terms of channel access.

Overall, consumer satisfaction was found to be high in case of primary financial organisations, with 76% rating them eight or more on a scale of zero to 10.

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Security of financial data and transactions however, remain a concern among consumers, with 65% of consumers expressing interest in security programmes to safeguard mobile activity and 58% expressing interest in biometric methods.

Fiserv COO Mark Ernst said: "The latest Expectations & Experiences survey underscores the day-to-day concerns about money that still loom large for consumers, even as there are more options available than ever before in how they can manage their finances.

"For banks, credits unions and billers, this is an opportunity to go beyond offering products to creating experiences that are essential to people's lives, anticipating their needs and giving customers control and confidence in their financial futures."