Customers cited a bank’s reputation as their top factor in choosing a new one. That’s a challenge for newer or smaller banks.
On today’s podcast episode of The Banking & Payments Show, we do a deep dive into Maria Elm’s EMARKETER report, The Bank in 2030. In the ‘Story by Numbers’ segment, we find out how banks will promote their brands to consumers in the future. We argue nicely in the ‘For Argument’s Sake’ segment about the end of banks as we know it and if it’s true that 90% of consumer-serving banks and credit unions won’t exist by 2030. Listen to the conversation with host, Rob Rubin, and analysts Maria Elm and Tiffani Montez.
American Express is expanding Amex Offers, which allows advertisers to serve card holders tailored deals. The expansion comes on the heels of Chase and PayPal launching financial media networks (FMNs), a trend we expect will continue.
But usage of the payment option remained quite limited compared with the share of buyers who use BNPL at any point during the year
It’s unclear whether customers understand what’s required for that level of personalization. Banks must bring customers up to speed about how they’ll do it.
On today's podcast episode, we discuss if ‘Just Walk Out’ technology will ever catch on at scale, how different generations respond to self-checkout, and what the next iteration of in-store payments will look like. Listen to the conversation with our analyst Sara Lebow as she hosts analysts Sky Canaves and David Morris.
It has a much smaller market cap than the likes of USDT. The entire asset category is still far from mainstream
Two lawsuits highlight potential risks to banks that use AI-powered chatbots but don’t update their practices.
A deluge of data has been fodder for all sorts of narratives about consumer financial health. We break down what’s really going on
Growing demand and regulatory clarity will encourage more FMN launches this year.
Most Gen Zers rely on AI for financial advice. Banks that offer AI-powered tools may have a major growth opportunity.
The tech can improve the checkout solution’s accuracy, removing potential customer frustrations
While some consumers’ finances are improving, other consumers are falling deeper into debt
While it’s difficult to attribute growth specifically to marketing, banks that reported marketing expenses in call reports saw the most loan growth.
“Over the last 12 months, we’ve seen a flurry of [media advertising] activity from outside the retail sector,” our analyst Sarah Marzano said on an episode of the “Behind the Numbers: Reimagining Retail” podcast. Although retail kicked off the commerce media trends, financial services, travel companies, and intermediaries such as Instacart and Uber Eats are monetizing their customer data and setting up ad networks. The rise of commerce media networks is changing the way advertisers approach targeting and how consumers interact with brands. Here are four predictions on these emerging trends.
Aging customer base may pose a threat to smaller financial institutions.